Brandon Roman

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Financial Services Regulatory Reform Poised to Move Ahead

Legislative Activity Lawmakers Moving Forward with Financial Services Reforms House Financial Services Chairman Jeb Hensarling (R-TX) has indicated that he plans to reintroduce his replacement for the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) – the CHOICE Act – but in various bills to give at least some provisions a greater likelihood of being enacted. Chairman … Continue Reading

It’s Tax Reform’s Turn

Legislative Activity Time for Tax Reform? With the GOP’s healthcare reform efforts having fallen apart, Members and staff from the House Ways and Means Committee will likely now turn their full time and attention to another key priority: tax reform. See our analysis of the current landscape here. This Week’s Hearings: On Tuesday, March 28, the House … Continue Reading

Financial Services Nominees in the Spotlight as Agencies Under Scrutiny

Legislative Activity Senate Committees to Consider Labor, SEC Nominations This Week; House Has Full Slate of Hearings After Examining Flood Insurance and the Fed Last Week This week, two Senate committees will consider the nominations of President Trump’s picks to lead the Department of Labor (DOL) and the Securities and Exchange Commission (SEC). On Wednesday, … Continue Reading

First Quarter Tax Reform Update

Legislative Activity The House With the 115th Congress entering month three, tax reform continues to be a focal point of the political debate in Washington. Intent to move forward with their tax reform “Blueprint” released in June 2016, Speaker Paul Ryan (R-WI), House Ways and Means Committee Chairman Kevin Brady (R-TX), and other tax-writers have … Continue Reading

Lawmakers Take on Targeted Financial Services Bills, Focus on Flood Insurance

Legislative Activity Financial Services Lawmakers Continue Work on Flood Insurance After Last Week’s Mark-Ups The House Financial Services and Senate Banking Committees last week advanced various pieces of legislation, including bills that would extend to investment companies operating in Puerto Rico and all the U.S. territories the same rules as those that apply on the … Continue Reading

Tax Reform Talks Continue as “Tax Dodging” in Democrats’ Crosshairs

Legislative Activity Corporate “Tax Dodging” in Spotlight as Tax Reform Timing in Question It is becoming increasingly clear that the timing of tax reform is largely tied to what happens with the House Blueprint. Assuming the proposal moves forward largely as is, the House is aiming to wrap up debate and successfully enact tax reform by … Continue Reading

Financial Services Regulatory Reform Debate Abounds in Congress and at the Agencies; FSOC to Meet Under Mnuchin

Legislative Activity CHOICE Act 2.0 Could Be Weeks Away as GOP May Need to Resolve Differences While previous reports indicated that House Financial Services Committee Chairman Jeb Hensarling (R-TX) was set to move on a revised version of the Financial CHOICE Act (CHOICE Act 2.0), his plan seems to have been met with delay. Though … Continue Reading

The Prospects for Tax Reform in Trump Town

Legislative Activity The Prospects for Tax Reform in Trump Town With the 115th Congress nearing the end of month two, tax reform continues to be a focal point of the political debate in Washington. Intent to move forward with their tax reform “Blueprint” released in June 2016, Speaker Paul Ryan (R-WI), House Ways and Means … Continue Reading

CHOICE Act 2.0, Insurance Regulation Take Center Stage; DoL Fiduciary Rule May Be Delayed as Other Regulators Review Regs

Legislative Activity Financial Services Committee Organizes as Hensarling Set to Move CHOICE Act 2.0 Last Tuesday, February 7, the House Financial Services Committee held a meeting to approve its Authorization and Oversight Plan (Plan) for the 115th Congress. The meeting featured partisan debate related to transparency within the Trump Administration and how the Committee should … Continue Reading

More on Timing of Tax Reform as Trump Teases Tax Plan; Tax-Writing Committees Get Organized

Legislative Activity Time for a Trump Tax Plan as Timing on Blueprint Shifts Last week, various high-profile members of the House Ways and Means Committee were about town publicizing the House’s tax reform “Blueprint,” which would overhaul the U.S. corporate, individual, and international tax systems, as well as make significant reforms to the Internal Revenue … Continue Reading

Republicans Move on Financial Deregulation; Fed Finalizes Stress Test Guidance

Legislative Activity President Trump Orders Review of Financial Regulations Last Friday, February 3, President Trump issued an Executive Order related to financial services regulatory reform (generally) and an Executive Memorandum specifically targeting the Department of Labor’s (DOL) Fiduciary Rule. The Executive Order on Core Principles for Regulating the United States Financial System directs the Secretary … Continue Reading

Senate Begins to Focus on Tax Reform, Set to Take Up Mnuchin Nomination

Legislative Activity Senate Starts Talking Tax Reform, Advances Mnuchin Nomination As House tax-writers continue to move forward with their tax reform “Blueprint” – and work to address a myriad of concerns that have arisen (i.e., border adjustability) – various Senate Finance Committee Members last week began to lay the groundwork for their approach to tax … Continue Reading

Dismantling Dodd-Frank Still a Priority; Acting Chairmen Take Charge at Regulatory Agencies

Legislative Activity Republicans Remain Committed to Dismantling Dodd-Frank At last week’s Congressional Republican retreat in Philadelphia, President Donald Trump urged Congress to make financial regulatory reform a priority to “help striving Americans get the credit they need to realize their dreams,” while Vice President Mike Pence confirmed that “dismantling Dodd-Frank” is a top legislative priority … Continue Reading

GOP Leaders Discuss Timing of Tax Reform; Clarity May Be Needed on New Treasury Regs

Legislative Activity GOP Sets Out Timeline for Tax Reform Last week, Republican lawmakers traveled to Philadelphia for a retreat to discuss their priorities for the 115th Congress.  Among the top priorities for the GOP: tax reform. According to House Speaker Paul Ryan (R-WI), the House will turn its full time and attention to tax reform … Continue Reading

Carson Nomination Gets a Vote; Financial Services Regulators Pause, Prepare for Trump Administration

Legislative Activity Senate Banking Committee Set to Vote on Carson Nomination This Tuesday, January 24, the Senate Banking Committee is set to vote on the nomination of Dr. Ben Carson to be Secretary of the Department of Housing and Urban Development (HUD). Two weeks ago, Dr. Carson received a fairly warm welcome from both Democrats … Continue Reading

Questions Over GOP Tax Reform Proposal Emerge; Acting Treasury Secretary Named

Legislative Activity Border Adjustability in the Spotlight Though healthcare and repealing and replacing the Affordable Care Act have thus far been the primary focus of the tax-writing committees this Congress, policymakers are still continuing to move forward with tax reform. Among the proposals in the House Republicans’ tax reform “Blueprint” receiving the most attention in recent weeks … Continue Reading

House and Senate Financial Services Lawmakers Kick-Off the 115th Congress; Regulators Tackle Debt Collection, Insurance, and FinTech

Legislative Activity New Year, New Look for Senate Banking and House Financial Services Committees With the new Congress officially under way, both the Senate Banking and House Financial Services Committees have announced new Committee members. Joining Chairman Mike Crapo (R-ID) on the Senate Banking Committee are fellow Republican Senators David Perdue (R-GA), Thom Tillis (R-NC), … Continue Reading

Tax-Writers Take-Off on Tax Reform; IRS Issues Post-Inversion Regs Amidst New Taxpayer Advocate Report

Legislative Activity Ways and Means, Finance Committees Welcome New Members Kicking off the 115th Congress, both the House Ways and Means and Senate Finance Committees have announced their updated rosters. Joining Chairman Kevin Brady (R-TX) on the House Ways and Means Committee will be Representatives Dave Schweikert (R-AZ), Jackie Walorski (R-IN), and Carlos Curbelo (R-FL). … Continue Reading

Congress Continues Budget Debate; Congressional Review Act: A Primer

Senate Activity The Senate will convene on Monday, January 9 at 2:00pm. Following any Leader remarks, the Senate will resume consideration of S.Con.Res.3, the FY 2017 Budget Resolution. At 5:30pm, the Senate will vote on Paul Amendment #1 (Substitute), with additional votes possible. At 2:30pm on Tuesday, January 10, the Senate will vote on Sanders Amendment #19 … Continue Reading

As Year Winds Down, Hensarling Prepares for 2017; OCC Announces Limited Purpose Banking Charters for FinTech Companies

Legislative Activity Hensarling to Remain Chairman as Monetary Policy and Short-Term Financing Issues Taken Up by the Committee Last week, House Financial Services Committee Chairman Jeb Hensarling (R-TX) was elected to his third term as Chairman. After being considered for Treasury Secretary in the Trump Administration, Chairman Hensarling will remain a crucial part of Republican … Continue Reading

New Ways and Means Ranking Member Selected; Mnuchin Nominated to Serve as Treasury Secretary

Legislative Activity Representative Richard Neal to Serve as Ways and Means Ranking Member In the wake of current Ways and Means Committee Ranking Member Sandy Levin’s (D-MI) decision to step down from chief Democrat of the House Ways and Means Committee, Representatives Richard Neal (D-MA) and Xavier Becerra (D-CA) both threw their names in the … Continue Reading

Financial Services Policymakers Prepare for 2017 as Regulators Wrap-Up Work

Legislative Activity Financial Services Policymakers Outline Agendas for 2017 Last week, House Financial Services Committee Chairman Jeb Hensarling (R-TX) outlined his ambitious agenda for 2017. At the top of the list is moving forward with the Creating Hope and Opportunity for Investors, Consumers and Entrepreneurs Act (CHOICE Act), which Chairman Hensarling estimates will be on … Continue Reading
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