Hiccup In Talks To Keep Government Open
Bill to keep government open delayed. The Hill: "[The bill] won't be released Monday night and will instead be unveiled Tuesday. This could complicate the House and Senate's efforts to end the lame-duck session this week ... The delay would then likely lead to a Thursday vote in the House. Lawmakers could then bounce it over to the Senate before the midnight deadline to keep the government open ... [Sen. Barbara Mikulski] didn't rule out a short-term continuing resolution (CR) for a few days to make way for the main package."
Final hang-ups over bank reform. Politico: "Rep. Jeb Hensarling (R-Texas) ... is trying to use the negotiations over renewing the Terrorism Risk Insurance Act to enact changes to Dodd-Frank, the 2010 banking regulation law Republicans have tried to dismantle. Sen. Chuck Schumer (D-N.Y.) and the White House are opposed, and think Hensarling is overreaching ... Republicans criticized Senate Democrats for including language to install a person with community banking experience on the Federal Reserve board of governors."
"G.O.P. Extracts Price for Averting Shutdown" reports NYT: "Congress prepared on Monday to scale back Michelle Obama's school-lunch nutrition mandates and curtail some clean water regulations ... Cultural conservatives in the House and Senate were also pressing to include a 'conscience clause' for employers who say funding contraception violates their religious beliefs."
New Rule To Constrain Banks
Fed to issue new bank capital requirements. Bloomberg: "Fed Governor Daniel Tarullo has said the U.S. requirement should be more stringent than the international standard and take into account how banks borrow money to determine how much more capital they need. The Fed proposal, to be announced today, may lower returns for shareholders of U.S. banks compared with firms in other parts of the world, according to analysts. The extra capital requirement could be heavier for firms such as Goldman Sachs Group Inc. and Morgan Stanley that rely more on markets for short-term funding, instead of looking to depositors."
Housing regulators try to ease access to mortgages. NYT: "... the government on Monday detailed its plan to offer mortgages with a down payment of as little as 3 percent of the purchase price [making] mortgages more widely available to people who have a strong credit history but lack the ready cash for the standard 20 percent down payment. Some critics warned about the risk of repeating the subprime mortgage fiasco ... But federal housing officials and other experts challenged these concerns, saying the new programs include a range of safeguards, including underwriting restrictions, a requirement to buy private mortgage insurance and counseling to reduce the risk of defaults."
Progressive Push For Warren '16
MoveOn.org goes all-in for Sen. Warren. NYT: "The liberal group is poised to spend $1 million on a campaign to draft Senator Warren, the Massachusetts Democrat, into the 2016 presidential race, an indication of an appetite among some activists for a more progressive alternative to Hillary Rodham Clinton."
AFL-CIO won't rush to endorse Hillary Clinton. Politico: "Top officials at AFL-CIO are pressing its affiliates to hold off on an endorsement and make the eventual nominee earn their support and spell out a clear agenda. The strategy is designed to maximize labor’s strength after years of waning clout and ensure a focus on strengthening the middle class, but it could provide an opening for a candidate running to Clinton’s left to make a play for union support ... Some unions are giving O’Malley and Sanders a look. Since the beginning of September, labor interests, primarily construction unions, have given $122,000 to a pro-O’Malley political action committee."
Breakfast Sides
Obama to talk immigration in Nashville. The Hill: "'Nashville has experienced substantial growth in recent years, including one of the highest job growth rates in the country,' a White House official said. 'Local leaders recognize that such growth is due in part to Nashville’s efforts to actively work to create a welcoming environment for new Americans.'"
Secretary of State John Kerry will attend international climate talks this week. NYT: "Negotiators are hoping to produce a draft of ... a deal by the end of the conference on Friday or Saturday, with the expectation that world leaders will sign on to the final plan next year in Paris."
