WASHINGTON–Four bills of interest to financial institutions are scheduled to be marked up today in the House.
The bills include:
- HR 4557, the Reforming Disaster Recovery Act of 2018, which seeks to amend Title I of the Housing and Community Development Act of 1974. The objective is to establish guidance and standards on how disaster funds may be distributed and accounted for if those funds are appropriated by Congress and distributed through the Community Development Block Grant Disaster Recovery (CDBG-DR) program to be given to states and localities.
- HR 5756, which would require the Securities and Exchange Commission to adjust certain resubmission thresholds for shareholder proposals
- HR 3861, the Federal Insurance Office Reform Act of 2017, which would move the Federal Insurance Office (FIO) from Treasury’s Office of Domestic Finance to the Office of International Affairs and take it out of the Financial Stability Oversight Council (FSOC). According to its supporters, the bill would end “duplicative duties” of the office that are performed by state insurance regulators and “focus FIO’s mission on the coordination between state insurance regulators and the federal government on issues of international importance.”
- HR 5763, the Cooperate with Law Enforcement Agencies and Watch Act, which would provide safe harbor to financial institutions that keep an account open at the request of a federal law enforcement agency for investigatory purposes.