While last week in Washington was slow due to the holidays, this week looks to be busy with the CFPB leadership debate and active sessions in the House and Senate.
The House of Representatives will consider H.R. 3905, the Minnesota’s Economic Rights in the Superior National Forest Act; H.R. 3017, the Brownfields Enhancement, Economic Redevelopment, and Reauthorization Act of 2017; H.R. 4182, the Ensuring a Qualified Civil Service Act of 2017; and H.R. 1699, the Preserving Access to Manufactured Housing Act of 2017. This bill amends the Truth in Lending Act (TILA) to specify that a retailer of manufactured housing is generally not a “mortgage originator” subject to requirements under that Act. It also amends the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 to specify that such a retailer is generally not a “loan originator” subject to requirements under that Act.
The Senate will consider nominations to the federal court system as well as the Tax Cuts and Jobs Act. Like its companion bill in the Senate, this bill does not alter or eliminate the income tax status of credit unions. We expect the bill to clear the Senate later this week. Then we expect the House and Senate leadership to hammer out a compromise bill that both the House and Senate can agree to pass. Read the full Washington Wire here..