Jeb Hensarling

House Republicans Vote to Strip Away Post-Financial Crisis Safeguards
Bill isn’t expected to be taken up in the Senate

Texas Rep. Jeb Hensarling says that “all of the promises of Dodd-Frank were broken.” (Bill Clark/CQ Roll Call File Photo)

House Republicans voted 233-186 Thursday to repeal large parts of the 2010 Dodd-Frank financial overhaul, just one month short of the seventh anniversary of the landmark law’s enactment.

The measure would unwind much of the financial structure put in place in the wake of the financial crisis. One of the biggest pieces of legislation enacted during the two terms of President Barack Obama, Dodd-Frank was designed to prevent the type of practices that led to the 2008 financial crisis and the recession it caused. Republicans have long complained that the law stifled the economy because it put too large a regulatory burden on business.

GOP Leaders on Flood Insurance Bill See Bipartisan Measure
Lawmakers working to beat Sept. 30 reauthorization deadline

Wisconsin Rep. Sean P. Duffy hopes to get bipartisan support for a reauthorization of the flood insurance program.  (Tom Williams/CQ Roll Call File Photo)

Both Democrats and Republicans cited concern about hurting low-income homeowners in legislation that would reauthorize the National Flood Insurance Program, but they also agreed that the program, with a current debt of $24.6 billion, needs to be on sounder financial ground.

Lawmakers are working to beat the expiration of the current authorization on Sept. 30. Without new authorization in place, housing markets in coastal and flood-prone areas could be disrupted.

Dodd-Frank Repeal Set Up for House Passage
Rules Committee allows only five amendments

Rep. Jim McGovern, D-Mass., is not a big fan of the Dodd-Frank repeal bill. (Bill Clark/CQ Roll Call File Photo)

A massive bill to repeal the Dodd-Frank financial law and allow better-capitalized banks to opt out of much of government regulation is heading to the House floor for a final vote on passage that is expected Thursday.

Over Democratic objections, the House Rules Committee on Tuesday allowed only five amendments that appeared to be uncontroversial plus a manager’s amendment to be considered, and it declined to allow a hearing for a proposal to reinstate the Depression-era Glass-Steagall Act.

Dodd-Frank Repeal Bill is Target of Contentious Amendments
Republicans likely to support a few of them on the floor

Rep. Jeb Hensarling has long targeted the Dodd-Frank financial regulation bill for repeal. (Bill Clark/CQ Roll Call File Photo)

As Rep. Jeb Hensarling’s Dodd-Frank repeal bill heads to the House floor this week, it will be the target of controversial amendments, including a couple that some Republicans are likely to support.

By late Monday, 16 amendments had been filed on the bill, which is scheduled for the House Rules Committee Tuesday evening.

House Schedules Dodd-Frank Repeal for Floor Vote
Legislation failed to get floor vote in previous congress

Speaker Paul D. Ryan and his GOP caucus are ready to go on repealing the Dodd-Frank law. (Tom Williams/CQ Roll Call)

A Republican plan to roll back the most expansive financial regulatory overhaul since the Depression is headed to a full vote in the House this week.

House Majority Leader Kevin McCarthy said Friday that he has scheduled debate and a floor vote on a bill that would repeal large parts of the 2010 Dodd-Frank financial overhaul. The law was enacted in the wake of the financial crisis and the recession and was meant to prevent the practices that led to the crisis.

Word on the Hill: JFK and Memorial Day Weekend
Logistics for Saturday’s parade and spottings this week

The Kennedy Stamps. (©2017 USPS)

Happy Memorial Day weekend, which is also President John F. Kennedy’s Centennial weekend.

Kennedy was born 100 years ago Monday. To celebrate, the United States Postal Service released a commemorative “forever” stamp to honor the late president.

Wells Fargo Revamps Lobbying Operation
Bank seeks to boost D.C. footprint amid recent political and PR problems

John Stumpf, left, former chairman and CEO of the Wells Fargo Company, listens to questions during a House Financial Services Committee hearing Sept. 29, 2016, on Capitol Hill. (Mark Wilson/Getty Images file photo)

Wells Fargo is overhauling its lobbying and political operation in Washington, as the big bank seeks to rehabilitate its image and policy agenda after months of hits nationwide and on Capitol Hill. 

David Moskowitz, a lawyer and executive with Wells Fargo for 24 years, has taken the reins of the expanded shop. He will oversee federal government relations and regulatory affairs as well as the company’s political action committee, its public policy development, and all state and local lobbying.

Rising Stars 2017: Advocates
On the front lines in a new era

Seven advocates made the CQ Roll Call’s list of Rising Stars of 2017. (Tom Williams/CQ Roll Call)

All this week, CQ Roll Call has been looking at 17 Rising Stars of 2017 — people who will now wield power and influence in a Washington that has been turned upside down by the presidency of Donald Trump.

Some of the names are familiar, others have recently burst on the scene. They include members of Congress, congressional and administration staffers, and advocates.

Tennessee, Texas Stand Out for Strengthened Hill Sway
In Roll Call’s Clout Index for this Congress, California delegation’s longtime hold on top spot is threatened

Party affiliation and longevity have helped propel members of the Tennessee delegation such as Sen. Bob Corker into positions that convey authority and power, Hawkings writes. (Tom Williams/CQ Roll Call)

No state in this decade has seen a more meaningful boost than Tennessee in institutionalized congressional influence.

Only eight states, all with much bigger delegations because they’re much more populous, have more overt sway at the Capitol this year. That is one of several notable findings from the new Roll Call Clout Index, which the newspaper uses to take a quantifiable measurement of every state’s potential for power at the start of each new Congress.  

Hensarling’s Offensive on Dodd-Frank Seen as Negotiating Move
Texas Republican’s new bill strips much more of CFPB’s authority

Texas Rep. Jeb Hensarling was considered by President Donald Trump for the Treasury secretary position. (Bill Clark/CQ Roll Call)

House Financial Services Chairman Jeb Hensarling appears to be doubling down on his Dodd-Frank repeal legislation, adding more features objectionable to Democrats in the wake of a White House announcement of a four-month review of the nation’s financial laws and regulations. 

In a staff memo circulated last week, Hensarling filled five single-spaced pages with changes to a bill approved by his committee in September 2016 over the opposition of every Democrat and one Republican. Among other things, the Texas Republican’s new bill would strip much more of the Consumer Financial Protection Bureau’s authority than last year’s version.