News: Derek Harley, Speaker Mike Johnson’s director of House operations, is leaving to become the CEO of the Congressional Institute.
Harley has worked on Capitol Hill on and off since 1999. The Congressional Institute is a non-profit that, among other things, organizes the House Republicans’ annual legislative retreat.
Johnson said that Harley has, for 25 years, “faithfully served the People’s House with distinction, ensuring that Members of Congress have the tools they need to best serve their constituents.”
“We are all very grateful for his years of service to the Congress, and we look forward to his tenure at the helm of the Congressional Institute in these historic times,” Johnson said. “No one is better prepared to carry out the Institute’s mission to develop effective public servants for the American people.”
Downtown news: Matt Bravo is becoming the managing partner of S-3 Group. Bravo was a top aide to House Majority Leader Steve Scalise. Bravo’s clients include T-Mobile, Google, Shield AI, the NFL, Meta and JPMorgan Chase.
Basel III Endgame, extended, continued: Republicans on the Senate Banking Committee urged the Federal Reserve to finalize Basel III capital reforms and avoid “structural overcapitalization,” according to a letter we obtained.
The letter, led by Sens. Mike Rounds (R-S.D.) and Tim Scott (R-S.C.), is a technical takedown of different aspects of the capital increases proposed by regulators under the Biden administration. The message is fairly simple: don’t overdo it.
“Using current capital levels as the reference point would institutionalize excessive requirements,” the senators wrote. Read the letter here.
