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View from CBA November 27, 2013
Happy Thanksgiving from Team CBA!
Thanksgiving is one of the best holidays of the year, not just because the Cowboys play, but because it is an opportunity to take a break and appreciate all we have in our lives. It requires no gift giving, and focuses on gratitude. We wish everyone a happy Thanksgiving and to those who celebrate, a happy Hanukkah.
Washington is still talking about Senate Majority Leader Harry Reid (D-NV) instituting the so-called “nuclear option.” This change to the Senate rules now means a simple majority vote for nominees of both executive and judicial branch positions, except for nominees to the Supreme Court, is required in order for a cloture vote to be cleared. Before today’s rule change, nominees would have to clear an initial super majority of 60 votes for cloture, then a simple majority vote (51) for confirmation.
This means that Federal Housing Finance Agency nominee Rep. Mel Watt (D-NC) is likely to be confirmed as the agency’s director, and there now appears to be no impediments to the confirmation of Janet Yellen, the nominee to Chair the Federal Reserve. In the long-term, nominees will have to meet a mere partisan standard and may lead to more activists, like Sen. Elizabeth Warren (D-MA), being placed in charge of regulators. Remember, her nomination to head the CFPB was scuttled because she was seen as too partisan and would not have been able to reach the threshold of 60 votes.
CBA LIVE 2014
Hard to believe, but CBA LIVE 2014 is just a couple short months away. You can sign up now and receive an early bird (get it) discount of $300 off of attendance. We are going to have a great lineup this year, including the first ever forum focused solely on the CFPB. The Honorable Tom Ridge, our nation’s first Secretary of Homeland Security, will deliver a keynote on cyber security, other emerging threats and disruptions on the horizon.