House Financial Services Committee

On the verge of controlling the Financial Services Committee, House Democrats criticized proposed changes to the Federal Reserve Board's post-crisis supervision program.

The National Credit Union Administration is expected to approve its proposed 2019-2020 budget this week, while Congress holds several hearings of interest to CUs.

Rep. Kyrsten Sinema, D-Ariz., crafted a moderate message and will head to the Senate after having backed legislation providing banks with regulatory relief.

A split Congress starting in January will likely result in total legislative gridlock – which actually works both for and against credit unions.

Democrat Maxine Waters, in line to take over the House Financial Services Committee, told colleagues she would undertake a deep dive into President Trump's "money trail," beginning with ties to Deutsche Bank.

There was speculation the North Carolina congressman wanted a higher Republican leadership role, but on Thursday he expressed interest in the ranking member position.

The presumptive chair of the Financial Services Committee resumed her tough criticism of the administration, but also committed to "hearing a range of views" if handed the gavel.

The industry and its allies have their work cut out for them navigating the political standstill.

The midterm elections virtually eliminate the chance that progress will be made on financial services legislation.

The focus since the 2016 election on easing rules, tax cuts and expanding access to credit is about to be turned on its head.