Kennedy, Perdue, Tillis Added to Banking Panel Now Led by Crapo

Majority Leader Mitch McConnell (R-Ky.) announced Tuesday that Sen. Mike Crapo (R-Idaho) will take the gavel of the Banking, Housing and Urban Affairs Committee, replacing outgoing Chairman Richard Shelby (R-Ala.) as the panel added three new GOP members.

Sens. John Kennedy (La.), David Perdue (Ga.) and Thom Tillis (N.C.) will join the committee, filling vacancies left by defeated Sen. Mark Kirk (Ill.), retired Sen. David Vitter (La.) and Sen. Jerry Moran (Kan.), who joined the Environment and Public Works Committee.

Shelby, who was required to step down from his post as chairman because of term limits, will remain a senior member of the banking panel.

The Senate Finance Committee also gained a new GOP member. Sen. Bill Cassidy (La.) joined the tax-writing panel after the retirement of Sen. Dan Coats (Ind.) left an empty seat. Sen. Orrin Hatch (R-Utah) will remain committee chairman.

The two panels are likely to have packed agendas this year as Republicans aim to flesh out a comprehensive tax overhaul and roll back Dodd-Frank regulations. Both committees will also wield influence over the confirmation process for some of President-elect Donald Trump’s nominees for top administration posts.


Finance Brief: Trump to Nominate Peirce for SEC Seat

The White House said President Donald Trump plans to nominate Hester Maria Peirce, a former Senate aide who’s now director of the Financial Markets Working Group at George Mason University’s Mercatus Center, as a member of the Securities and Exchange Commission. Former President Barack Obama nominated Peirce, but she was not confirmed by the Senate.

Finance Brief: Week in Review & What’s Ahead

The White House said President Donald Trump intends to nominate former Treasury Department official and private equity investor Randal Quarles as the Federal Reserve’s bank supervisor. If confirmed by the Senate, Quarles would fill one of three vacant seats on the Fed’s board, as vice chairman for supervision.

Washington Brief: Week in Review & What’s Ahead

President Donald Trump defended his eldest son, Donald Trump Jr., after it was revealed that in June 2016 he met with a Russian lawyer who has ties to the Kremlin. The meeting came after he was led to believe the lawyer would provide damaging information about Democratic presidential candidate Hillary Clinton, and that the information was part of the Russian government’s effort to assist his father’s presidential campaign. The meeting included a Russian-American lawyer who’s a former Russian intelligence officer

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