Credit unions executives located in or near Rep. Gary Miller’s (R-Calif.) district in Southern California voiced their approval of a bill introduced by the House Financial Committee leader on June 28.
Bill rolled out by House GOP last week would eliminate Fannie and Freddie and modify qualified mortgage regulations.
Thursday hearing will focus on secondary mortgage market reform bill.
Trade group says it does have some concerns while California Democrat says bill is partisan ideology and another attack on middle class.
Ranking House Financial Services Committee member, 26 others express concern to FEMA over flood insurance affordability.
Executives from Southern California credit unions voiced their approval of a bill introduced Friday by Rep. Gary Miller that would establish a risk-based capital system.
CUNA Chief Economist Bill Hampel will be among panelists at a congressional discussion on plans to reform the secondary mortgage market.
Jerry Reed, chief lending officer from the $5.3 billion Alaska USA FCU, told lawmakers during a June 18 hearing on the Consumer Financial Protection Bureau’s qualified mortgage rule that products and product features were responsible for the mortgage market meltdown, not underwriting standards.
Trade lobbyist says member business lending cap would be too controversial to be in California congressman's bill expected to drop this week.
House Financial Services hearing features partisan back-and-forth over Fannie and Freddie.