Congress is in session this week with several important hearings and proposed rule comment deadlines scheduled throughout the week.

On the House floor, the chamber is expected to consider a joint resolution of disapproval of the CFPB’s Overdraft Rule after the Senate passed the measure 52-48 last week.

On the Senate floor, the chamber is expected to try to tackle a compromise budget resolution later this week that seeks to iron out differences between the previously passed House and Senate versions. Both chambers will need to pass such a resolution to begin the reconciliation process and consider tax reform legislation.

Other highlights include:

• Today is the last day to submit public comment on a CFPB proposed rule amending the Electronic Fund Transfer Act (EFTA). Specifically, the proposed rule seeks to provide guidance on the personal use of “stablecoins.”
• Tuesday, the House Financial Services Committee will conduct a hearing titled "Following the Money: Tools and Techniques to Combat Fraud,” at 10 a.m. Eastern.  Discussion about Rep. Loudermilk’s, R-Ga., Financial Reporting Threshold Modernization Act (H.R. 1799) is anticipated. The bill would raise the CTR threshold from $10,000 to $30,000.
• Tuesday the House Small Business Committee conducts a hearing on deregulation, during a hearing titled “The Golden Age: Unleashing Main Street Through Deregulation,” starting at 10 a.m. Eastern.
• On Wednesday, the House Financial Services Committee is expected to hold a markup of its version of stablecoin legislation – the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act, as well as an America’s Credit Unions supported bill to overturn the CFPB’s 1071 rulemaking, H.R. 976, among other measures.
• The comment deadline for the CFPB proposed rule seeking to prohibit certain terms in consumer agreements expires Tuesday, with public comments accepted until midnight.
• Wednesday, the House Judiciary Committee holds a hearing on AI, titled “Artificial Intelligence: Examining Trends in Innovation and Competition,” at 10 a.m. Eastern.
• The comment deadline for the CFPB proposed rule altering data broker practices and expanding reporting requirements on consumer reports expires Wednesday, following a 30-day extension. America’s Credit Unions will file comments by the deadline and continue to urge the CFPB to withdraw the proposal and reconsider the bureau’s approach.