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Committee Passes 10 Bills
On Thursday, the House Financial Services Committee convened a markup of 10 bills to reform the broken credit reporting system, increase diversity and inclusion efforts in the financial services sector, improve the homebuying process and preserve the affordability of rural housing.
See the legislation below.
- H.R. 281, the Ensuring Diverse Leadership Act of 2019,introduced by Rep. Joyce Beatty (D-OH). It was passed by a bipartisan vote of 56-2.
- H.R. 1018, the Improving Corporate Governance through Diversity Act of 2019, introduced by Rep. Gregory Meeks (D-NY). It passed by a bipartisan vote of 53-5.
- H.R. 2852, the Homebuyer Assistance Act of 2019, introduced by Rep. Brad Sherman (D-CA). It passed by a voice vote.
- H.R. 3279, the Diversity in Corporate Leadership Act of 2019, introduced by Rep. Carolyn Maloney (D-NY). It passed by a bipartisan vote of 52-6.
- H.R. 3614, the Restricting Use of Credit Checks for Employment Decisions Act, introduced by Rep. Al Lawson (D-FL). It passed by a vote of 32-26.
- H.R. 3618, the Free Credit Scores for Consumers Act of 2019, introduced by Rep. Joyce Beatty (D-OH). It passed by a vote of 32-26.
- H.R. 3619, the Appraisal Fee Transparency Act of 2019, introduced by Rep. William Lacy Clay (D-MO). It passed by a voice vote.
- H.R. 3620, the Strategy and Investment in Rural Housing Preservation Act of 2019, introduced by Rep. William Lacy Clay (D-MO). It passed by a bipartisan and unanimous vote of 57-0.
- H.R. 3622, the Restoring Unfairly Impaired Credit and Protecting Consumers Act, introduced by Rep. Rashida Tlaib (D-MI). It passed by a vote of 32-26.
- H.R. 3642, the Improving Credit Reporting for All Consumers Act, introduced by Rep. Alma Adams (D-NC). It passed by a vote of 32-26.
Click here and here to learn more and tune in to next week’s markup on Tuesday, July 16 and 10:00AM.
Member Spotlight
Congressman Brad Sherman (D-CA)
On Thursday, an amendment to the National Defense Authorization Act for Fiscal Year 2020, offered by Congressman Sherman, passed the U.S. House of Representatives.
“To date, our sanctions have been illusory. A few individuals have been told they can’t get visas to visit the United States, they will never see Disneyland. This amendment provides real, serious sanctions on the Russian state,” said Congressman Sherman.
This amendment, which would punish Russia for election interference, was cosponsored by Chairwoman Waters. Click here to learn more.
Weekend Reads
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Building a Sustainable and Competitive Economy
On Wednesday, the Subcommittee on Investor Protection, Entrepreneurship and Capital Markets, chaired by Representative Carolyn Maloney (D-NY), convened a hearing to examine proposals to improve environmental, social and governance disclosures. Click here to learn more.
Witnesses from L to R: Tim Mohin, Global Reporting Initiative (GRI); James Andrus, CalPERS Investment Office; Paul Atkins, Patomak Global Partners; Degas Wright, Decatur Capital Management, Inc.; and Mindy Lubber, Ceres.
House Passes 7 FSC Bills
On Tuesday, the U.S. House of Representatives passed the following bills, offered by House Financial Services Committee Members, and managed on the House floor by Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee.
- H. Res. 456, Emphasizing the Importance of State Regulators, introduced by Rep. Ayanna Pressley (D-MA) and Rep. Bill Huizenga (R-MI). It passed by a voice vote.
- H.R. 1988, the Protect Affordable Mortgages for Veterans Act of 2019, introduced by Rep. David Scott (D-GA) and Rep. Lee Zeldin (R-NY). It passed by a voice vote.
- H.R. 2162, The Housing Financial Literacy Act of 2019,introduced by Rep. Joyce Beatty (D-OH) and Rep. Steve Stivers (R-OH). It passed by a voice vote.
- H.R. 2409, Expanding Access to Capital for Rural Job Creators, introduced by Rep. Cindy Axne (D-IA) and Rep. Alex Mooney (R-WV). It passed by a vote of 413-7.
- H.R. 2515, the Whistleblower Protection Reform Act of 2019, introduced by Rep. Al Green (D-TX) and Rep. Bill Huizenga (R-MI). It passed by a vote of 410-12.
- H.R. 2919, Improving Investment Research for Small and Emerging Issuers Act, introduced by Rep. Bill Huizenga (R-MI) and Rep. Ben McAdams (D-UT). It passed by a voice vote.
- H.R. 3050, Expanding Investment in Small Businesses Act of 2019, introduced by Rep. Bryan Steil (R-WI). It passed by a vote of 417-2.
Tweet of the Week
Chairwoman's Corner
Post-Fed Hearing: Following Chairman Powell’s testimony, Chairwoman Waters joined Yahoo Finance where she discussed her Q&A with the Fed Chairman on numerous issues including his engagement with the President and Facebook’s announcement that it plans to launch a cryptocurrency.
See her interview above and tune in on Wednesday, July 17 at 10:00AM as the full Committee examines Facebook’s proposed cryptocurrency.
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