Legislative Update

It promises to be an busy four weeks as the House and Senate will remain in session until they break for their August recess.
 
Floor Schedule
 
The Senate convenes today at 2:00 pm with the first roll call votes expected tomorrow at noon.  Tomorrow, the Senate will consider the nomination of John Thomas Fowlkes to be United States District Judge for the Western District of Tennessee.  In addition, cloture was filed on the motion to proceed to S. 2237, the Small Business Jobs and Tax Relief Act on Thursday, June 29th.  As a result, there will be a cloture vote on the motion to proceed to S. 2237 at 2:25pm tomorrow.
 
The House comes back today and will consider bills under suspension of the rules, including H.R. 4367, a bill to amend the Electronic Fund Transfer Act to limit the fee disclosure requirement for an automatic teller machine to the screen of that machine.  CUNA strongly supports this legislation, and we will be sending a letter of support for the bill to the members of the House of Representatives today.  As per our usual practice, an electronic copy of this letter will be available on our Letters to Congress page after it has been transmitted.  The bill will be debated after 2:30pm.  We expect a recorded vote to occur on the bill, and that vote will not take place before 6:30pm.
 
On Tuesday, the House will meet to begin consideration of legislation to repeal of the Affordable Health Care for America Act.  The House is expected to pass that piece of legislation on Thursday and move to H.R. 4402, the National Strategic and Critical Minerals Production Act of 2012.  On Friday, the House is not in session.
 
Committee Meetings
 
As usual, we are following several committee hearings and mark-ups on both sides of the Capitol:
 
On Tuesday, the Senate Banking, Housing and Urban Affairs Committee will hold a hearing titled, “Framework for Safe and Efficient Mobile Payments.”  The Senate Finance Committee will hold a hearing titled, “Boosting Job Opportunities Through Tax Overhaul.”  In the House, the House Financial Services Subcommittee on Capital Markets and Government Sponsored Enterprises will hold the first in a series of hearings that the Financial Services Committee will hold this month on the Dodd-Frank Act as it nears its second anniversary.  The hearing will examine the effect that the Act has had on U.S. capital markets, businesses, investors, and consumers, with a particular focus on derivatives regulation; the Volcker Rule; risk retention; and single counter-party credit limits.  The House Judiciary Subcommittee on Intellectual Property, Competition and the Internet will hold a hearing titled, “Impact of Dodd-Frank Act: Financial Services Competition.”
 
On Wednesday, the House Financial Services Subcommittee on Financial Institutions and Consumer Credit will hold a hearing titled, “Impact of Dodd-Frank Act: Mortgage Banking.”
 
As always, if you have any questions regarding these or any legislative issues, please do not hesitate to contact John Magill, Sam Whitfield or Ryan Donovan.