After months on hold responding to the COVID-19 pandemic, the 2020 US elections are heating up, as Democrats seek to take control of the White House from President Donald Trump. On Thursday, July 9, former Vice President and presumptive Democratic presidential nominee Joe Biden released a broad economic plan during a speech in Dunmore, Pennsylvania. … Continue Reading
The first round of 5-day negotiations to modernize the North American Free Trade Agreement (NAFTA) concluded on August 20. In a joint statement released by trade officials from the United States, Mexico and Canada, they restated the commitment to updating the deal, continuing domestic consultations, and working on draft text. They also committed to a … Continue Reading
Legislative Activity Senate Passes TRIA Reauthorization Bill; Timing of House Version Unclear On July 17, the Senate voted 93-4 to pass S. 2244, the Terrorism Risk Insurance Program Reauthorization Act of 2014. The bill reauthorizes the Terrorism Risk Insurance Act (TRIA) for seven years while making few changes to the current program. Shortly after the Senate passed … Continue Reading
Legislative Activity Senate Banking Committee to Markup TRIA Reauthorization Bill On Tuesday, June 3, the Senate Banking Committee will hold a markup of the Terrorism Risk Insurance Program Reauthorization Act of 2014 (S. 2244). The bill, which was introduced by Senator Charles Schumer (D-NY), has bipartisan support and would: (1) extend the current Terrorism Risk Insurance … Continue Reading
Legislative Activity Congress Releases Volcker Fix Bills House Financial Services Chairman Jeb Hensarling (R-TX), Representative Shelley Moore Capito, and four other House Republicans introduced the “Fairness for Community Job Creators Act” (H.R. 3819) last week, to exempt all banks, regardless of size, from divesting collateralized debt obligations (CDOs) backed by trust preferred securities (TruPS) under … Continue Reading
Legislative Activity Terrorism Risk Insurance Reauthorization Gets Congress’ Attention Last week the House Financial Services Committee addressed the issue of reauthorization of the Terrorism Risk Insurance Act (TRIA), with committee Chairman Jeb Hensarling (R-TX) stating he felt “skeptical” about the need for reauthorization. This week, the Senate Banking Committee will address the issue with a … Continue Reading
Legislative Activity House Financial Services Committee Members Announce Bill on Housing Finance Reform House Financial Services Committee Chairman Jeb Hensarling (R-TX) and Committee Members Scott Garrett (R-NJ), Randy Neugebauer (R-TX), and Shelley Moore Capito (R-WV) announced their plans to introduce the “Protecting American Taxpayers and Homeowners Act” or PATH Act to reform housing finance. Highlights … Continue Reading
