House panel passes measure to eliminate Fannie Mae and Freddie Mac, largely privatize secondary mortgage market.
Democrats fail to add amendments to GSE bill after arguments over house prices.
A housing finance reform bill unveiled by House Republicans July 11 would wind down Fannie Mae and Freddie Mac and also contains a number of regulatory relief provisions, including tweaks to the CFPB’s qualified mortgage rule and exam reform.
Richard Cordray was confirmed as director of the Consumer Financial Protection Bureau July 16, after Senate Democrats and Republicans successfully negotiated a deal that includes other pending nominees and will keep filibuster rules in place.
GOP panel members anxious to move measure along while Democrats ask to wait until after recess to allow public input.
WASHINGTON — Credit union leaders meet with lawmakers to push for expanding access to supplemental capital.
Bipartisan deal gets CFPB director the job officially while court fight continues and House leader lashes out.
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.