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House Passes Seven FSC Bills
On Monday, the U.S. House of Representatives passed the following financial services bills to support veterans, benefit investors, provide housing opportunities, hold regulators accountable, promote Minority Depository Institutions (MDIs), and improve cybersecurity:
See legislation below.
- H.R. 4302, Homeless Assistance Act of 2019, introduced by Rep. Brad Sherman (D-CA), Chair of the Subcommittee on Investor Protection, Entrepreneurship and Capital Markets. It was passed by a voice vote.
- H.R. 4335, 8-K Trading Gap Act of 2019, introduced by Rep. Carolyn Maloney (D-NY). It was passed by a vote of 384-7.
- H.R. 4841, Prudential Regulators Oversight Act, a bipartisan bill introduced by Rep. Dean Phillips (D-MN). It was passed by a voice vote.
- H.R. 5315, Expanding Opportunities for MDIs Act, introduced by Rep. Joyce Beatty (D-OH), Chair of the Subcommittee on Diversity and Inclusion. It was passed by a voice vote.
- H.R. 2398, Veteran HOUSE Act of 2020, introduced by Rep. Scott Peters (D-CA). It was passed by a vote of 362-31.
- H.R. 4458, Cybersecurity and Financial System Resilience Act of 2019, introduced by Rep. Patrick McHenry (R-NC), Ranking Member of the House Financial Services Committee. It was passed by a voice vote.
- S. 457, President George H.W. Bush and First Spouse Barbara Bush Coin Act, introduced by Sen. John Cornyn (R-TX). It was passed by a voice vote.
Click here for details on the legislation.
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As Seen on FSC-TV
In case you missed this week’s hearings, see below for a snippet of the infographics displayed on the hearing room big screens.
January 14: Full Committee Hearing on the Affordable Housing Crisis.
January 14: Subcommittee Hearing on the Community Reinvestment Act.
January 15: Subcommittee Hearing on Domestic Terrorism and Extremism.
January 15: Subcommittee Hearing on the Financial Accounting Standards Board and the Public Company Accounting Oversight Board.
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Member Spotlight
Congressman Brad Sherman (D-CA)
Chair, Subcommittee on Investor Protection, Entrepreneurship, and Capital Markets |
"Rep. Brad Sherman (D-CA), a longtime crypto skeptic, pressed Maples for instances of domestic use, saying: “If it works for Hamas, it will work for the Nazis, too.” – Yahoo Finance on Subcommittee Chairman Brad Sherman’s Q&A at domestic terrorism hearing."
Tweet of the Week
Weekend Reads
Chairwoman's Corner
Committee Conducts Oversight: This week, Chairwoman Waters sent letters to the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation demanding the agencies explain their efforts to ensure legitimacy of the proposed Community Investment Act rule. See details here.
Chairwoman Waters and Rep. Joyce Beatty (D-OH), Chair of the Subcommittee on Diversity and Inclusion, sent a letter to the U.S. Securities and Exchange Commission demanding answers about the ongoing lack of ethnic and racial diversity on the agency’s four advisory committees. Click here to learn more.
Chairwoman Waters, Congressman Al Green (D-TX), Chair of the Subcommittee on Oversight and Investigations, Congressman Bill Foster (D-IL), Chair of the Task Force on Artificial Intelligence, Congressman Josh Gottheimer (D-NJ), and Congressman Stephen Lynch (D-MA), Chair of the Task Force on Financial Technology, sent a letter to the Government Accountability Office requesting information on the role of alternative data in expanding access to credit. Click here to learn more.
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