News Topic: House Financial Services Committee

The legislation, introduced by Rep. Patrick McHenry, R-N.C., would essentially reverse a court ruling that marketplace lenders say has blocked them from helping more consumers access credit. ... Read full article

Continuing to pull back the reins on the aggressive approach taken under former Director Richard Cordray, the agency's new five-year plan values consumer choice over heavy-handed enforcement. ... Read full article

A bill passed by the House would raise the threshold that allows smaller banks and credit unions to avoid expanded Home Mortgage Disclosure Act requirements imposed by a 2015 rule. ... Read full article

Of the more than 30 GOP lawmakers due to retire at yearend - a historically significant level of departures for a single election - several are important to banking policy. ... Read full article

House Republicans are exiting Congress in droves ahead of the 2018 midterm elections and the stakes for the financial services industry could be significant. ... Read full article

Kirsten Sutton Mork, the House Financial Services Committee's staff director, will become chief of staff at the Consumer Financial Protection Bureau. ... Read full article

Despite increasing bipartisan support to remove asset cutoffs for "systemically important financial institutions," Congress will likely settle for an asset threshold increase. ... Read full article

The House Financial Services Committee was expected to approve a bill as early as Wednesday that amends key provisions of the Secure and Fair Enforcement for Mortgage Licensing Act of 2008. ... Read full article

The House Financial Services Committee began consideration of 14 bills on Tuesday, including one that would stop Fannie Mae and Freddie Mac from being released by the government and another hailed as helping the underbanked in rural areas. ... Read full article

A bill that would ensure fintechs can continue to partner with banks to make loans at interest rates that exceed state caps drew some bipartisan support on Wednesday, despite opposition by consumer groups. ... Read full article

Democrats' victories in Virginia and New Jersey fueled speculation that they may be able retake the House during midterm elections next year. That could have a big impact on regulatory relief, housing finance reform and other bank priorities. ... Read full article

In a somewhat surprising decision, House Financial Services Committee Chairman Jeb Hensarling announced his retirement from Congress on Tuesday, but speculation immediately grew that he could fill a regulatory post. ... Read full article

A bill backed by House Democrats would establish a process to review big banks for patterns of consumer violations, ending possibly in culpable institutions losing their charter. ... Read full article

Though FHFA Director Mel Watt stopped short of saying he would break with a Treasury agreement that forces all profits of the GSEs to go to the government, he emphasized that it couldn’t continue indefinitely. ... Read full article

The GOP inquiry appears aimed at providing more ammunition for potentially ousting Director Richard Cordray, but the report's impact may be limited. ... Read full article

Consumer Financial Protection Bureau Director Richard Cordray allegedly misled Congress about the agency's investigation into Wells Fargo's illegal sales practices and may have rushed a settlement with the bank, according to a report by the GOP. ... Read full article

A mismatch of lawmakers from different parties and committees are wading into the aftermath of Equifax’s megabreach, with some using it to advance their policy agendas while others are calling for possible criminal prosecution. ... Read full article

Staff for House Financial Services Committee Chairman Jeb Hensarling said that CFPB Director Richard Cordray is continuing to ignore subpoenas on the agency's work on the arbitration rule. ... Read full article