WASHINGTON, D.C. - (11/09/04)The 108th Congress will reconvenenext week for a short lame-duck session, and bothCUNA and NAFCU believe lawmakers will focus on taking care ofbudget issues and not much else. They will deal with theappropriations bills and get home, said CUNAs GaryKohn. But there is talk of an omnibus bill, and Kohn said CUNA islooking for any opportunities to get bankruptcy reform tacked on toit, although lobbyists anticipate bankruptcy reform will nowprobably have to wait for the 109th Congress. Some organizationissues will also be on tap, with Harry Reed the heir apparent toSen. Tom Daschles Minority Leader throne in the Senate. BothNAFCU and CUNA expect Illinois Dick Durbin to be namedMinority Whip. Committee assignments will also be on the docket, asthe Republicans took additional seats in both the House and Senate.The Republicans could get an extra seat on eachcommittee, noted Kohn. And the Democrats may losesome of their funding for committee staff. NAFCUsBrad Thaler said he expects to see Sen. Arlen Specter (R-PA) takeover as chairman of the Senate Judiciary Committee. Although Thalersaid its likely lawmakers will just take care ofappropriations and organizational matters and not much else nextweek, he said work on intelligence reform is possible.
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A housing bill that already passed the Senate cleared the House Monday evening, but included bipartisan community banking provisions that have already raised objections in the upper chamber.
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Fifteen banks have failed since November 2019, with the most recent one occurring on Jan. 30.
February 9 -
The Government Accountability Office was tasked with investigating the Consumer Financial Protection Bureau's stop-work order, but CFPB officials refused to meet with or provide information to Congress' investigative arm.
February 9 -
Federal Reserve Gov. Christopher Waller said comments from banks and fintech firms reveal sharply different priorities in the creation of the central bank's proposed "skinny" master accounts.
February 9 -
Check fraud has risen 385% since the pandemic, with criminals using stolen mail and digital tools to deceive major financial institutions.
February 9 -
The activist investor HoldCo Asset Management said Monday that it doesn't plan to pursue proxy battles this spring at either Key or Eastern. It had been agitating publicly over the banks' M&A strategies.
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