June 8, 2017

Dodd-Frank News: Financial CHOICE Act Up for Vote Today 

By James. E. Hyland, Esq., The Pennsylvania Avenue Group and TLTA Federal Legislative Counsel 
Today, the U.S. House of Representatives will take up HR 10, the Financial CHOICE Act. This is Chairman Hensarling's (R-TX) blueprint to repeal and replace many parts of Dodd-Frank. Hensarling reported the legislation out of the Financial Services Committee nearly a month ago, along a party-line vote after a mark-up that lasted for two days. It is expected that it will pass the full House on Thursday or Friday, again on a largely party-line vote. 
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Gov. Abbott Announces Special Session, Declares Items to Be Included

 On Tuesday, June 6, Gov. Greg Abbott announced that a special session will begin on July 18, 2017. Please note that while title insurance is not one of the 20 items, TLTA will of course still monitor the session closely for any impact to our industry.
According to the Office of the Governor's website, the following 20 items will be included:
  1. Sunset legislation
  2. Teacher pay increase of $1,000
  3. Administrative flexibility in teacher hiring and retention practices
  4. School finance reform commission
  5. School choice for special needs students
  6. Property tax reform
  7. Caps on state and local spending
  8. Preventing cities from regulating what property owners do with trees on private land
  9. Preventing local governments from changing rules midway through construction projects
  10. Speeding up local government permitting process
  11. Municipal annexation reform
  12. Texting while driving preemption
  13. Privacy
  14. Prohibition of taxpayer dollars to collect union dues
  15. Prohibition of taxpayer funding for abortion providers
  16. Pro-life insurance reform
  17. Strengthening abortion reporting requirements when health complications arise
  18. Strengthening patient protections relating to do-not-resuscitate orders
  19. Cracking down on mail-in ballot fraud
  20. Extending maternal mortality task force

Don't Miss Important Legislative Updates at the Annual Conference and Business Meeting!

There's still time to register for the Annual Conference and Business Meeting in New Orleans next week! In addition to all the great sessions, speakers and networking opportunities, Conference will offer opportunities to hear about the latest legislative session from insiders:
Aaron Day, TLTA director of government affairs and counsel, will speak on "New Legislation That Affects You!"
Crowd favorite Evan Smith of The Texas Tribune will host a session titled, "What Just Happened – and What Happens Next: Texas Politics 2017."
The Joint Agent/Underwriter Section Meeting will provide more information and perspective on the recent legislative session.
Don't miss these essential sessions and more at Conference. Register today!

GSE News: Here's a Bipartisan Path Forward to Accomplish GSE Reform

HousingWire | May 31, 2017
A lack of bipartisan support nearly shattered any chance of reforming Fannie Mae and Freddie Mac, leaving the government sponsored-enterprises in conservatorship for almost a decade. The Bipartisan Policy Center, however, is set on correcting this issue as talks for reform start to resurface.
Over the years, talks of GSE reform have transformed from something that could happen to the boy who cried wolf, but the Trump administration is shifting this mentality, vowing to make GSE reform a priority.
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CFPB News: Chief Defends Agency Amid GOP Threat

The Hill | June 1, 2017
CFPB director Richard Cordray on Wednesday, May 31, criticized Republican efforts to limit the agency’s scope and power.
Cordray defended the CFPB’s history of enforcement actions against banks and financial services firms as the House prepares to vote next week on a bill to strip much of that power away.
“It is abusive to take unreasonable advantage of people’s lack of understanding or inability to protect themselves,” Cordray said at an event in Arlington, Va., according to Bloomberg BNA.
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TLTA has scheduled several live webinars for spring and summer 2017. Register now, or reserve your On-Demand version today!