banking-and-finance

Senate Democrats Target Michael Cohen for ‘Selling Access’ to Trump
Former personal attorney to POTUS is key subject in Mueller investigation

Democratic senators criticized former Donald Trump attorney Michael Cohen for what one called his “side hustle as influencer-in-chief.” (Eduardo Munoz Alvarez/Getty Images file photo)

Michael Cohen, the former personal attorney for President Donald Trump, is the target of a new report from Democratic senators who on Friday accused him of “selling access” to the White House through a shell company he formed during the 2016 election campaign.

The senators’ report is based on emails they obtained from Swiss pharmaceutical company Novartis, which signed a $1.2 million contract with Cohen’s shell company, Essential Consultants LLC, for “consulting and advisory services.”

Democratic Senators Ask If CFPB Nominee Worked on Immigration Policy Separating Children and Parents
Kathy Kraninger’s role at OMB involves oversight of DHS and Justice

Sen. Elizabeth Warren, D-Mass., wants to know if President Donald Trump’s nominee to lead the CFPB was involved in drafting the new immigration enforcement policy. (Tom Williams/CQ Roll Call file photo)

Did President Donald Trump’s nominee to lead the Consumer Financial Protection Bureau approve the administration’s “zero-tolerance” immigration policy that has led to a wave of families being separated near the Southern border?

That is the question posed by Democratic Sens. Sherrod Brown of Ohio and Elizabeth Warren of Massachusetts to Kathy Kraninger, the program associate director at the Office of Management and Budget whose job includes policy implementation oversight for both the Justice Department and Homeland Security Department, according to the senators.

Warren Says Democrats Lack Guts to Take on ‘Billionaire Class’
Comes after she criticized other Democrats during Dodd-Frank fight

Massachusetts Democratic Sen. Elizabeth Warren and Colorado Republican Sen. Cory Gardner hold a news conference on Thursday to discuss bipartisan action they are taking to put marijuana legislation into the hands of state lawmakers. (Sarah Silbiger/CQ Roll Call)

Sen. Elizabeth Warren criticized fellow Democrats who voted for interests of the “billionaire class” over those of most Americans.

“Until we have all of the Democrats who are willing to take on the billionaire class, until we have all of the Democrats who are willing to fight for the American people and not for a handful of billionaires and giant corporations, then it’s going to stay an uphill fight,” she said on The Intercept’s Mehdi Hasan’s “Deconstructed” podcast released Friday.

Corker Unveils Plan to Give Congress Power to Stop Trump Trade Actions
Bipartisan bill was filed despite opposition from the White House

Sens. Bob Corker and Heidi Heitkamp are among the leaders of an effort to put new constraints on the imposition of tariffs for national security purposes.. (Tom Williams/CQ Roll Call file photo)

Sen. Bob Corker followed through Wednesday on unveiling legislation to increase congressional oversight of tariffs applied in the context of national security.

Section 232 of the Trade Expansion Act of 1962 grants the executive branch authority to impose tariffs to protect vital interests, but Corker and others argue that President Donald Trump is misapplying the law — using it against allies instead of adversaries.

Sometimes, the Dissidents Do Leadership a Solid
As immigration debate shows, rare House discharge petitions can force the majority out of a self-made jam

A discharge petition filed by GOP Rep. Carlos Curbelo has put pressure on his own party’s leaders to strike a deal on immigration — but they may not hold it against him, Hawkings writes. (Bill Clark/CQ Roll Call file photo)

It sounds like something that might be overheard at the congressional appliance dealership: Power abhors a vacuum, especially when there’s a political mess overdue for cleanup, and a great tool for fixing all that is a discharge petition.

It’s also an apt summation of what’s going on now with the Republican catharsis over immigration — which is notably similar to what went down three years ago, during the last House majority leadership interregnum, and also to another fabled GOP rift back in 2002.

Bipartisan Breakout Gives Vulnerable Senators Wins Ahead of Recess
VA and banking bills headline measures heading to President Donald Trump

Sen. Jon Tester is the ranking Democrat on the Senate Veterans Affairs Committee. (Bill Clark/CQ Roll Call file photo)

Some of the Senate’s most vulnerable incumbents will be scoring big legislative victories just in time for the Memorial Day parades.

The most timely outbreak of bipartisanship will come with passage, expected Wednesday afternoon, of a bill designed to improve health care access and options for veterans, known as the VA MISSION Act.

For GOP, Death of Manufacturing Loan Program Finally in Sight
Unspent money dating back years makes it an easy, yet still elusive, target

Energy and Natural Resources Chairman Lisa Murkowski, R-Alaska, is no fan of the loan program for energy efficient vehicles. (Tom Williams/CQ Roll Call)

One way or another, the Energy Department’s direct loan program for fuel-efficient car manufacturers looks destined for the chopping block.

Once viewed as a lifeline for Detroit’s “Big Three” manufacturers facing economic headwinds even before the onset of the Great Recession, the program is now little more than a kitty of untapped funds appropriated a decade ago. The last major Advanced Technology Vehicles Manufacturing program loan was approved conditionally in 2015, but Arconic Inc., whose former parent Alcoa secured the loan to produce lightweight vehicle materials at its Tennessee plant, turned the money down last year.

Bank Group Plans Midterm Ads, Starting With Tester, Budd
Six-figure ad buys on the way in Montana and North Carolina

Sen. Jon Tester, D-Mont., will get a helping hand from the American Bankers Association in his re-election bid. (Tom Williams/CQ Roll Call file photo)

The American Bankers Association said Wednesday it would weigh into midterm congressional campaigns for the first time with independent expenditure TV ads, beginning with “six-figure” buys in Montana and North Carolina.

“These ads are a concrete example of our stepped-up political engagement efforts,” American Bankers Association President Rob Nichols told hundreds of bankers at the association’s government relations conference in Washington Wednesday.

Congressional Gridlock Plays Central Role in Internet Tax Case
Supreme Court could reshape online commerce nationwide this term

Senate Budget Chairman Michael B. Enzi, R-Wyo., introduced a bill on the online sales taxation issue last year. (Tom Williams/CQ Roll Call file photo)

The Supreme Court will hear oral arguments Tuesday in a major internet sales tax case, and it won’t be the first or last time the justices will try to figure out whether gridlock in Congress plays a role in their decision.

But usually the gridlock is not quite on this scale. The Supreme Court could reshape online commerce nationwide when it decides this term whether to overturn its 1992 ruling that bars states from collecting sales tax from out-of-state vendors.

‘Lenny the Loan Shark’ Leads Opposition to Payday Rule Repeal
Democrats gearing up for one of the biggest fights of the spring

Protesters gather in front of the Consumer Financial Protection Bureau on Thursday. (Doug Sword/CQ Roll Call)

What do Mick Mulvaney, Sens. Lindsey Graham and Richard J. Durbin, Lenny the Loan Shark and progressive groups have in common?

They all appear to be prepping for what is likely to be one of the biggest political fights of the spring — the attempt to repeal the Consumer Financial Protection Bureau’s controversial payday lending rule using the Congressional Review Act.