Financial Services

Photos of the Week: Trump Budget Arrival, ADA Protests, and Immigration Debate Grinds to a Halt
The week of Feb. 12 as captured by Roll Call’s photographers

Boxes containing President Donald Trump’’s fiscal 2019 budget arrive in the House Budget Committee hearing room on Monday morning. (Bill Clark/CQ Roll Call)

Congress has already left town ahead of next week’s Presidents Day recess.

This week saw the arrival of President Donald Trump’s fiscal 2019 budget (if you missed it, we boiled down the agencies that would win and lose under the budget in one chart), House passage (though not without protests) of a bill aimed at curbing American with Disabilities Act lawsuits, and the Senate consideration (and likely the end of consideration) of immigration proposals. 

Word on the Hill: What’s Buzzing Around the Capitol?
Wyden sends Tinder a valentine, Love on the Hill, and J-Law in town

An aide attends a House Financial Services Financial Institutions and Consumer Credit Subcommittee hearing on Wednesday. (Tom Williams/CQ Roll Call)

We’re all over Capitol Hill and its surrounding haunts looking for good stories. Some of the best are ones we come across while reporting the big stories.

There is life beyond legislating, and this is the place for those stories. We look for them, but we don’t find them all. We want to know what you see, too.

Which House Members Voted Against Their Leadership on the Budget Deal
Both Democrats and Republicans bucked their party's leaders

Speaker Paul D. Ryan, R-Wis., was able to deliver enough of his GOP colleagues to pass the latest stopgap spending bill. (Bill Clark/CQ Roll Call)

The House’s early Friday morning passage of a bill to reopen government after a brief shutdown was not your typical budget deal vote.

Unlike similar measures Congress has passed in recent years to lift sequestration spending caps and suspend the debt ceiling, this one drew a limited amount of Republican opposition and minimal Democratic support.

Steven Mnuchin Mostly Meh on Market Drop
Treasury secretary says Russia sanctions are on the way

Treasury Secretary Steven Mnuchin mostly shrugged off the recent market drop. (Tom Williams/CQ Roll Call)

Treasury Secretary Steven Mnuchin told lawmakers Tuesday that he’s unworried about the sharp drop in equity markets in recent days and noted the stock market is still much higher than it was at the start of the Trump administration.

Mnuchin also said President Donald Trump would be able to appoint a regulator next year for Fannie Mae and Freddie Mac, the government sponsored mortgage giants, adding that the official would have the power to unilaterally curtail affordable housing programs backed by Democrats.

Latest Wells Fargo Penalties Add Fuel to Dodd-Frank Debate
Democrats fret that banks will get off easy under new Federal Reserve leadership

Sen. Sherrod Brown frets that the new leadership at the Federal Reserve will favor lightening restrictions on banks that have defrauded their customers. (Bill Clark/CQ Roll Call)

Democrats are praising former Federal Reserve Board Chair Janet Yellen’s actions against Wells Fargo & Co. and questioning whether the Fed will continue to be as tough now that she has left the central bank.

The Fed’s cease-and-desist order released Friday evening, on Yellen’s final day as chairwoman, restricts the nation’s third-largest bank to the $1.95 trillion in total consolidated assets it had at the end of 2017, a move the company estimates will cut its earnings this year by between $300 million and $400 million. The company had a net income of $22.2 billion in 2017.

Democrats Land Recruit Against Arkansas’ French Hill
Clarke Tucker faces an uphill race against the well-funded Republican

The DCCC is targeting Arkansas Rep. French Hill in November. (Bill Clark/CQ Roll Call File Photo)

No Democrat represents Arkansas at the federal level. National Democrats are excited about state Rep. Clarke Tucker’s prospects of changing that. 

Tucker, an attorney, entered the race against GOP Rep. French Hill in the 2nd District on Monday. He faces an uphill climb. Inside Elections with Nathan L. Gonzales rates the race Solid Republican.

White House Backs Expanding Security Review of Foreign Deals

Sen. Thom Tillis, R-N.C., has concerns that some reviews might hamper legitimate purchases by foreign firms. (Bill Clark/CQ Roll Call)

Pending legislation that would expand the reach of a panel’s national security review of foreign business transactions would not discourage foreign investment in the United States or business deals with U.S. companies, Trump administration officials told a Senate committee Thursday.

Heath P. Tarbert, assistant secretary of the Treasury for International Markets and Investment Policy, said bipartisan legislation by Sens. John Cornyn, R-Texas, and Dianne Feinstein, D-Calif., would strengthen one line of defense against adversarial foreign interests gaining access to sensitive military information or important current and emerging technology.

National Security Risks Seen in Emerging Blockchain Technology

A visual representation of the digital Cryptocurrency, Bitcoin alongside U.S. Dollars. Cryptocurrencies including Bitcoin, Ethereum, and Lightcoin have seen unprecedented growth. (Dan Kitwood/Getty Images)

The expanding popularity of Bitcoin and other cryptocurrencies has brought the emerging blockchain technology to the forefront, and with its rise comes a range of national security concerns for the United States, experts on the new technology say.

In fact, these experts say that it is time for regulators and lawmakers to increase their understanding of the technology, its uses, its potential misuses and to decide how various congressional committees and Cabinet departments will take jurisdiction regarding blockchain.

At the Races: 2018 Starts in PA-18
Our weekly newsletter on the latest in House and Senate races

Welcome to At the Races! You can keep track of House and Senate races with this weekly newsletter. Subscribe here. We want to hear what you think. Email us at at attheraces@cqrollcall.com with your questions, tips or candidate sightings. — Simone Pathé and Bridget BowmanThis week … Trump is wading into another special election, Democrats went after one of their own and Tim Pawlenty said “no thanks” to a Senate run.

Tim Pawlenty Not Running for Senate in Minnesota
Republicans saw him as strongest recruit to take on Tina Smith in November

Former Minnesota Gov. Tim Pawlenty will not run for Senate in 2018. (Tom Williams/CQ Roll Call File Photo)

Former Minnesota Gov. Tim Pawlenty said Tuesday he will not run in November’s special election for Senate.

“I am very interested in public service and service for the common good — there are a lot of different ways to do that — but I’ll tell you today running for the United States Senate in 2018 won’t be part of those plans,” Pawlenty told Fox Business.