Lawmakers like Sen. Tim Scott may feel differently about some elements in a Senate regulatory relief bill depending on whether CFPB Director Cordray is remaining in office until his term expires in July.
The need to raise the U.S. debt limit, pass a budget, provide relief for victims of Hurricane Harvey and enact flood insurance and tax reform will dominate the remaining legislative calendar this fall.
The National Association of Federally-Insured Credit Unions defended the credit union tax exemption and called for other financial reforms during a meeting Tuesday with Treasury Secretary Steven Mnuchin.
The National Credit Union Administration has laid out a detailed and comprehensive reform plan, with proposals ranging from minor procedural changes to more ambitious goals, like a firmer assertion of federal preemption over state laws.
House lawmakers including Jeb Hensarling are preparing to move on a series of targeted regulatory relief bills in an effort to give Senate Banking Committee Chairman Mike Crapo, R-Idaho, more leeway when he tries to craft a relief measure.