MBA CREF Policy Update Jan. 19, 2023

Bill Killmer; Mike Flood

House Republicans Complete Rosters on Key Committees

Earlier this week, the House Republican Steering Committee met to fill the rosters of several key committees in the House of Representatives. The list of Republicans populating the House Financial Services, Ways and Means, and Appropriations Committees have been finalized. The full list of new members serving on these three influential panels can be found here . The Financial Services Committee also announced Subcommittee Chairman assignments for the 118th Congress, which can be found here

  • Why it matters: These three committees have jurisdiction over issues of most relevance to MBA.  
  • What’s next: The House Appropriations and Ways and Means Committees have yet to finalize their Subcommittee Chairmanships. MBA will continue to monitor and update members on any important organizing developments – in both the House and Senate – and on both sides of the political aisle.  

For more information, contact Alden Knowlton at (202) 557-2741 or Borden Hoskins at (202) 557-2712.

FTC Proposes Rule Banning Employee Noncompete Clauses 

Late last week, the Federal Trade Commission (FTC) announced a proposed rule that would ban the use of noncompete clauses in worker contracts, including for paid and unpaid employees, independent contractors, internships, and volunteer contracts. A noncompete clause blocks workers from working for a competing employer or starting a competing business after that person stops working for an employer. The rule would label the use of such clauses as an unfair method of competition for employers towards their workers. 

  • Why it matters: This rule is proposed under the FTC’s rarely used Section 5 rulemaking authority to prevent unfair methods of competition. The novel use of this rulemaking authority may indicate the FTC’s focus on certain business practices and its willingness to stop those practices through rulemaking instead of enforcement. 
  • What’s next: MBA will monitor this proposal and provide any relevant updates and may join broader efforts by employer groups in commenting on the proposal.   

For more information, contact Justin Wiseman at (202) 557-2854 or Alisha Sears at (202) 557-2930.

Rent Control Map and State Trackers

  • Given the ongoing proposals and ballot initiatives across the country, MBA has published an online map that provides an overview of state and local rent control laws. MBA will follow ongoing developments on this issue and will update the map accordingly.  
  • State eviction moratorium and legislative activity tracker available here and here.

For more information, please contact William Kooper at (202) 557-2737 or Grant Carlson at (202) 557-2765.

Upcoming MBA Education Webinars on Critical Industry Issues

MBA Education continues to deliver timely programming that covers the spectrum of challenges, obstacles and solutions pertaining to our industry. Below, please see a list of upcoming webinars – which are complimentary to MBA members:

  • Using the MISMO API Toolkit to Build Your Own FIPS Code Lending API – January 26
  • Combating the Downturn: Strategies to Optimize Borrower Support in Recessionary Environments – January 31
  • Home Equity Lending: An Assessment of Today’s Market Landscape & Cashout Opportunities – February 9
  • Five Steps to Improve Efficiency, Compliance and Automation in Your Mortgage Operations – February 16

MBA members can register for any of the above events and view recent webinar recordings. For more information, contact David Upbin at (202) 557-2931.