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Monday, September 28, 2015

House Committee to Vote on ABA-Backed Bills This Week

The House Financial Services Committee is expected to vote on several ABA-supported bills on Wednesday. The bills include measures that would delay the Labor Department's controversial rule redefining who counts as a fiduciary under the Employee Retirement Income Security Act until after the SEC takes similar action (H.R. 1090), replace the CFPB's sole director with a bipartisan, five-member commission (H.R. 1266) and require Senate confirmation for the CFPB's inspector general (H.R. 957).

Meanwhile, CFPB Director Richard Cordray will deliver his semiannual report to the House panel tomorrow. The committee will also meet tomorrow to evaluate the effects of regulatory standards on the U.S. insurance market.

The Senate Banking Committee will hold a hearing tomorrow to review the nominations of Adewale Adeyomo as assistant Treasury secretary for international markets, Amias Gerety as assistant Treasury secretary for financial institutions and Jay Lerner as FDIC inspector general.

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