NACHA Government Relations Update - May 18, 2017

Posted May 17, 2017

Letter on Swipe Fee Vote Gains Signatures
May 16, 2017 – Rep. Ted Budd (R-NC) is gathering signatures for a letter to House GOP leaders that would urge them to let Members vote on whether to repeal the debit card fee cap known as the Durbin Amendment. Language to repeal the rule is part of the Financial CHOICE Act, a bill sponsored by House Financial Services Chairman Jeb Hensarling (R-TX) that would overhaul financial regulation and undo key parts of the Dodd-Frank law.
 
The CHOICE Act is currently scheduled to be considered on the floor of the House after the Memorial Day recess – a delay from the original schedule. There are efforts by Leadership to remove the language via a procedural motion in the Rules Committee – prior to the bill reaching the floor. This would alleviate a potentially divisive issue diverting support for CHOICE Act passage. 
 
Rep. Budd’s letter asks leadership to allow a vote in the House and to move the bill in regular order. 

 
Trump Signs Executive Order on Strengthening the Cybersecurity of Federal Networks and Critical Infrastructure

On May 11, 2017, President Donald Trump signed a long-delayed cybersecurity executive order that is expected to launch sweeping reviews of the federal government’s digital vulnerabilities and directs agencies to adopt specific security practices.
 
The directive is Trump’s first major action on cyber policy and sets the stage for the administration’s efforts to secure porous federal networks that have been repeatedly infiltrated by digital pranksters, cyber thieves and government-backed hackers from China and Russia.
 
While each department or agency is responsible for the cybersecurity of its networks, The Department of Homeland Security will lead the effort and ensure a baseline level of security across the civilian executive branch.
 
 
House Passes American Health Care Act of 2017
On May 4, 2017, the House of Representatives passed H.R. 1628, the American Health Care Act of 2017.  The bill now goes to the Senate for consideration. Provisions related to the use of the ACH Network as the health care standard for payment, (Sec. 1104 of the Affordable Care Act) remain intact. 
 
Passage Vote Count
Rep: 217-20
Dem: 0-193
Final Vote: 217-213
 
A section by section summary can be found here.
 
 
H.R. 10 – The Financial CHOICE Act, Clears House Financial Services Committee
On May 4, 2017, H.R.10, The Financial CHOICE Act passed the House Committee on Financial Services by a vote of 34-26. CHOICE, which stands for Creating Hope and Opportunity for Investors, Consumers and Entrepreneurs, received strong support from community banks and credit unions, but was opposed by some large financial institutions and consumer advocates.
 
There was bipartisan support for some standalone provisions relating to capital formation and community bank relief; but also an undercurrent of disapproval from some in the GOP over the Durbin Amendment repeal effort. Other contentious areas included changes to the structure of the CFPB and heated debate around the function and role of the GSEs.
 
The bill heads to the House Rules Committee next, and then to the floor of the House (timing unclear). 
 
Introduced Amendments and Vote Counts can be accessed here.
 
 
White House Issues Executive Order Re: American Technology Council
On May 1, 2017, the White House issued an executive order creating the American Technology Council. The Council will be led by the President himself and also includes members from the highest levels of the federal government such as the vice president; the secretaries of Defense, Commerce and Homeland Security; the director of national intelligence; and senior presidential adviser Jared Kushner.
 
The Council's aim is to "coordinate the vision strategy, and direction for the federal government's use of information technology (IT) and the delivery of services through information technology," according to the order.
 
 
Legislative Tool Kit
House 2017 Calendar
Senate 2017 Calendar
 

Access: Public