Overnight Regulation: House panel advances Dodd-Frank rewrite | Senators grill United Airlines chief

Overnight Regulation: House panel advances Dodd-Frank rewrite | Senators grill United Airlines chief

Welcome to Overnight Regulation, your daily rundown of news from the federal agencies, Capitol Hill, the courts and beyond. It's Thursday evening here in Washington, where House Republicans just voted to repeal ObamaCare. Read the story here.

Here's the latest.

 

THE BIG STORIES

 

Dodd-Frank rewrite: A key House panel passed a Dodd-Frank repeal bill Thursday.The Hill's Sylvan Lane has the story:

The House Financial Services Committee approved a bill Thursday to repeal and roll back significant pieces of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

The panel voted to send Chairman Jeb Hensarling's (R-Texas) Financial CHOICE Act to the House floor, 34-26, along party lines. The bill would accomplish much of a long-term GOP goal: to revoke the expansive financial regulations passed under President Obama after the 2008 financial crisis and long protected by Democrats.

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All of the panel's Democrats voted against the bill, following more than 24 hours of contentious debate dragged across three days. Republicans blocked several amendments offered by Democrats that would restore the key parts of Dodd-Frank stripped by the CHOICE Act.

The intense, exhaustive markup included hours of lawmakers fighting over the true cause of the 2008 crisis, the Federalist Papers, the founding of the United States, Russia's influence on the 2016 presidential election, President Trump's potential conflicts of interest and the Emoluments Clause of the Constitution.

Hensarling's bill would remove critical regulations placed on the financial sector through Dodd-Frank. Republicans have long argued that the 2010 bill has suffocated economic growth, crushed banks and limited choices under overbearing, costly rules.

"There is no excuse in the United States of America for 2 percent growth," Hensarling said Tuesday. "Those are American dreams that will never be realized."

Click here to read the rest of the story.

 

United under fire: United Airlines President Scott Kirby took a "beating" on Capitol Hill Thursday for the second time this week.

Testifying before a Senate subcommittee, Kirby expressed remorse for the way United booted passenger David Dao off a packed flight last month.

It was the same message he delivered before a House hearing earlier this week. But skeptical senators on both sides of the aisle questioned how much the airline's customer service policies will improve, given what they see as a lack of competition in the industry.

Senators raised concerns not only about United's overbooking procedures, but also about baggage and flight change fees, and the legroom on planes.

Some lawmakers called for a stronger "Passenger Bill of Rights" to address these issues.

"It's certainly impossible to ignore the public outcry," Sen. Roy BluntRoy Dean BluntWe must fund community health centers now Overnight Tech: Senators demand tech firms do more on Russian meddling | House Intel releases Russian-promoted ads | Apple CEO says 'fake news' bigger threat than ads | Ex-Yahoo CEO, Equifax execs to testify on breaches Facebook: Clinton, Trump campaigns spent a combined M on ads MORE (R-Mo.) said at the hearing.

Sen. Bill NelsonClarence (Bill) William NelsonOvernight Tech: Senate panel subpoenaed ex-Yahoo chief | Twitter gives all users 280 characters | FBI can't access Texas shooter's phone | EU wants tax answers from Apple Overnight Cybersecurity: What we learned from Carter Page's House Intel testimony | House to mark up foreign intel reform law | FBI can't access Texas shooter's phone | Sessions to testify at hearing amid Russia scrutiny Former Yahoo CEO subpoenaed to appear before Congress MORE (D-Fla.) told Kirby that passengers are "sick and tired" of being treated poorly by airlines.

"I take no pleasure in beating up on the airlines, but in this case, it is warranted and it's a good thing we're having this hearing," Nelson said.

There is "no excuse for dehumanizing passengers," added Sen. Maria CantwellMaria Elaine CantwellDemocrats oppose effort to delay or repeal Interior methane rule Senators spar over proposal to drill in Alaska wildlife refuge Fake quorum calls are an excuse for the Senate's inaction MORE (D-Wash.).

"It would be safe to say all of us were deeply disturbed by the images of Dr. Dao, bloodied and dazed, being dragged from the aisle of a plane last month," Cantwell said.

Read the rest of the story here.

 

 TOMORROW'S REGS TODAY

Keep an eye on these rules in Friday's edition of the Federal Register:

--The Federal Communications Commission (FCC) will make changes to the national television ownership rule.

The FCC will reinstate a metric for calculating media ownership, that will make it easier for companies to buy broadcast television stations.

The changes go into effect in 30 days.

--The Federal Retirement Thrift Investment Board will issue new regulations for death benefits.

The changes go into effect on May 15.

--The U.S. Department of Agriculture (USDA) will issue new rules under the national poultry improvement plan.

The changes will "establish new biosecurity principles, amend testing procedures for Mycoplasma, clarify laboratory procedures for Salmonella, and add new diagnostic tests for Mycoplasma and Salmonella," among other things.

The changes go into effect in 60 days.

 

NEWS RIGHT NOW 

Trump eases ban on political activity by churches

ACLU and others ready lawsuits on Trump's religious exemption order 

Dems tout Day of Reason as alternative to National Day of Prayer 

Trump revives lumber wars 

Conservation group sues Trump administration over sharks

FCC chair to deliver speech touting first 100 days

FCC chair: Net neutrality advocates misrepresenting the truth

Rural internet providers applaud FCC move to kill net neutrality rules

Ivanka Trump to meet with EPA chief ahead of Paris climate pact decision

Trump to 're-examine' ObamaCare contraception mandate

Texas governor poised to sign nation's harshest anti-sanctuary bill – The Washington Post 

State Department seeks tougher visa scrutiny, including social media checks – Reuters 

 

BY THE NUMBERS

6: Proposed rules

14: Final rules

(Source: Friday's Federal Register)