Tuesday: House reforms Dodd-Frank, Senate debates energy bill

The House starts at noon and will take up seven bills under suspension of the rules later Tuesday, including several financial services measures.

One of those bills, H.R. 2672, would amend the qualified mortgage rule created by the 2010 Dodd-Frank financial overhaul. Specifically, it would direct the Consumer Financial Protection Bureau to establish an application process for counties to obtain "rural" status so that they can qualify for certain loans.

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The current CFPB rule uses the Agriculture Department's Urban Influence Code definition of rural. But some critics have said that definition limits the availability of credit for some rural properties. 

As with previous proposals to amend Dodd-Frank, the Senate is unlikely to take up the House bill.

The Senate will hold its first procedural vote on an energy efficiency bill from Sens. Jeanne Shaheen (D-N.H.) and Rob Portman (R-Ohio) at 11 a.m.

Last week, Senate Majority Leader Harry Reid (D-Nev.) filed a motion to end debate on the motion to proceed to S. 2262, which contains measures to boost building codes, train workers in energy efficient building technologies, help manufacturers become more efficient and bolster conservation efforts at federal agencies, among other provisions.

Reid is negotiating with Republicans on how many and which amendments will receive votes. Republican insistence on considering non-germane ObamaCare amendments killed progress on the bipartisan bill last year. This year, Republicans and vulnerable Democrats up for reelection are pushing for a vote on the construction of the Keystone XL pipeline — something the administration has delayed out of environmental concerns.

After that vote, the Senate will adjourn subject to the call of the chair in order to attend weekly caucus luncheons and to take the official photo of this Congress at 2 p.m.

The full list of House suspension bills being considered Tuesday follows:

- H.R. 3584, to allow privately insured credit unions to be eligible for membership in the Federal Home Loan Bank System.

- H.R. 2672, to direct the Consumer Financial Protection Bureau to create an application process for counties to be designated as "rural" in order to qualify for certain mortgages.

- H.R. 4386, to allow the Treasury secretary to use state examinations for certain financial institutions instead of federal reporting requirements.

- H.R. 3329, to direct the Federal Reserve to propose a revised regulation to expand the Small Bank Holding Company Policy statement to bank holding companies and savings and loan companies with consolidated assets of less than $1 billion. Currently, only bank holding companies with assets of less than $500 million can qualify.

- H.R. 3468, to provide coverage from the National Credit Union Share Insurance Fund for credit union members holding funds for the use of nonmembers.

- H.R. 2919, to direct the Chairman of the Administrative Conference of the U.S. to report to Congress annually on the expenses awarded to prevailing parties in certain administrative proceedings and civil action court cases.

- H.R. 4292, to clarify certain art exhibitions from foreign countries allow any activity in the U.S. associated with the temporary display to not be considered commercial activities.

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