The busy legislative agenda laid out by President Trump in the State of the Union speech Tuesday night casts doubt on how quickly Congress can move on financial services legislation, particularly a housing finance reform package.
The president’s speech included calls for Congress to enact immigration reform, as well as spending for infrastructure investment and the military, without mention of core policy issues of interest to the financial services industry.
Trump touted his administration’s steps to ease regulations across industries, but steered clear of a pending bill that provides targeted relief for banks from provisions of the Dodd-Frank Act.
Lawmakers interviewed after the speech said they expect the Senate to still pass the regulatory relief bill, which was negotiated by Banking Committee Chairman Mike Crapo, R-Idaho, and has bipartisan support. But they were less optimistic about a plan for reforming the government-sponsored enterprises Fannie Mae and Freddie Mac taking shape this year.
Read more in American Banker.