Financial Services Ns a SEE ~= = ae a a ee o, During the four previous years of Hensarling’s Oversight of Regulators. As they have in previous years, chairmanship, most of the committee’s major bills died the banking committees in 2017 will devote considerable quietly in the Senate, such as efforts to repeal much of time to overseeing rules issued by financial regulators. Dodd-Frank (the CHOICE Act), impose substantial reforms These will include the still-unfinished interagency rules for upon the Fed, restructure the CFPB and strip the FSOC of clawing back incentive compensation drafted by the SEC, various powers. That may change now that the House, the Fed, the FDIC and other agencies; the CFPB’s Senate and White House will operate with greater controversial new rules for prepaid cards, payday lenders coordination, though the threat of the Senate filibuster and mandatory arbitration clauses; the global Financial limits what Republicans can achieve. Hensarling notably Stability Board’s forthcoming regulationsfor capital held has enjoyed a longtime friendship with Vice President- by large insurers; and the international Basel Committee’s elect Mike Pence, which will give him a powerful ally in the rules for bank capital, which are expected to be issued by White House as the new administration plots its strategy the end of this year. The Banking Committee must also for financial regulation and nominates key appointees for schedule hearings for high-level Treasury nominees, as the regulatory agencies. Hensarling agrees with Senators well as nomineesfor key vacancies at the SEC, CFTC, the Crapo and Brown on the importance of capital for big Federal Reserve and the Ex-Im Bank, which were never banks, but he wantsto reward banks with relief from filled in the current Congress because of lingering much of Dodd-Frank’s supervisory regime if they agree to disputes with the Obama administration. a nagar hen rea. lear i ian Se pape Se fo Two Deadlines to Watch: 1)thelargest ba