Although the House Financial Services Committee ran through a formidable to-do list in two days of mark-ups last week, there’s still little to show for the first seven months of the 114th Congress in the financial-reform and regulation arena. As these mark-ups signify, a lot of preparation work is well under way on each side of the Capitol in hopes of a conference on sweeping legislation for many critical issues in this sector, but growing animosity between House and Senate GOP leadership and heightened partisan tension all over the Hill will combine with the biggest stalemate of them all – the lack of any constructive action on U.S. fiscal policy – to make it very difficult for any of the bills now in the works to advance quickly or smoothly.
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