Bloomberg News
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Break's over: Congress returns to full banking-policy plate
The clock starts ticking this week on a busy agenda of financial services priorities on Capitol Hill, including passing reforms to Dodd-Frank, overhauling the housing finance system and confirming key regulators.

The timing for congressional business is restricted this year since the midterm elections in the fall will soon start attracting all of the attention on Capitol Hill.

But banking lobbyists and the two financial services committees still have a crop of legislative initiatives they will try to get out the door. First among them is a bipartisan bill spearheaded by Senate Banking Committee Chairman Mike Crapo making targeted reforms to the Dodd-Frank Act, followed by yet another try to reform the government-sponsored enterprises Fannie Mae and Freddie Mac.

Most analysts believe the regulatory relief bill is headed to passage in the Senate, but it is still unclear what will happen when the bill gets to the House. The odds are even less certain for a GSE reform bill that continues to be bogged down by a whole host of issues.

"There are ongoing efforts in both chambers to introduce mortgage finance reform legislation, but the timing remains fluid," Isaac Boltansky, an analyst at Compass Point, wrote in a research note.

The Senate also has on its agenda remaining confirmation votes for the heads of the Federal Deposit Insurance Corp. and the Federal Reserve Board, as well as members of the Federal Reserve Board and the Financial Stability Oversight Council. Lawmakers will also may try to pass legislation to strengthen data security standards, and roll back the Consumer Financial Protection Bureau's payday rule.