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House Passes Six FSC Bills
This week, the U.S. House of Representatives passed six financial services bills to reauthorize the Terrorism Risk Insurance Program, increase corporate diversity, ensure disaster relief is distributed fairly, address homelessness and protect investors.
Click here and here for details on the legislation.
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As Seen on FSC-TV
In case you missed it, see below for a snippet of the infographics displayed in the hearing room this week.
November 19: Full Committee hearing to examine the harmful practices of some private equity firms.
November 20: Subcommittee on Housing, Community Development, and Insurance hearing to examine residents’ health and safety in HUD housing.
November 20: Subcommittee on Consumer Protection and Financial Institutions hearing on minority depository institutions.
November 21: Task Force on Financial Technology hearing on the role of big data in financial services.
Chairwoman's Corner
Committee Majority Slam Carson’s Disparate Impact Proposal: On Friday, every Member of the House Financial Services’ Committee Majority signed on to a letter to HUD Secretary Ben Carson, blasting the agency’s proposed changes to the disparate impact standard under the Fair Housing Act, which would make it harder for everyday Americans who find themselves victims of housing discrimination to get justice.
Click here to read the full letter.
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Member Spotlight
| Congressman Gregory Meeks (D-NY) |
On Thursday, the U.S. House of Representatives passed H.R. 5084, the Improving Corporate Governance Through Diversity Act of 2019. This bill was introduced by Congressman Gregory Meeks (D-NY), Chairman of the Subcommittee on Consumer Protection and Financial Institutions, and cosponsored by Congresswoman Carolyn Maloney (D-NY), Chair of the Subcommittee on Investor Protection, Entrepreneurship, and Capital Markets.
In the Queens Eagle, the Congressman said the measure “is the culmination of years of work dedicated to increasing transparency so that the highest levels of corporate America can begin to reflect the diversity of America.”
H.R. 5084 passed by a vote of 281-135 with the majority of House Republicans voting against this legislation to increase corporate diversity.
America for Sale?
On Tuesday, at a hearing entitled, “America for Sale? An Examination of the Practices of Private Funds,” Committee Democrats highlighted harmful practices of some private equity firms.
Click here for Chairwoman Waters’ opening statement at the hearing.
Tweet of the Week
Waters Announces December Schedule
On Thursday, Chairwoman Waters, announced several Committee hearings for the month of December:
- December 4 at 10:00 AM – The full Committee will convene for a hearing entitled, “Oversight of Prudential Regulators: Ensuring the Safety, Soundness, Diversity, and Accountability of Depository Institutions?"
- December 5 at 10:00 AM – The full Committee will convene for a hearing entitled, “Promoting Financial Stability? Reviewing the Administration’s Deregulatory Approach to Financial Stability."
- December 5 at 2:00 PM – The Subcommittee on Housing, Community Development and Insurance will convene for a hearing entitled, “An Examination of the Federal Housing Administration and Its Impact on Homeownership in America.”
- December 6 at 9:30 AM – The Task Force on Artificial Intelligence will convene for a hearing entitled, “Robots on Wall Street: The Impact of AI on Capital Markets and Jobs in the Financial Services Industry.”
- December 10 at 10:00 AM – The full Committee will convene for a markup.
- December 11 at 10:00 AM – The full Committee will convene for a continuation of the December 10 markup.
To date, the Committee has held 70 hearings this year, including three field hearings.
Visit https://democrats-financialservices.house.gov/calendar/ for the most up-to-date Committee schedule
Weekend Reads
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