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.
House Financial Services hearing features partisan back-and-forth over Fannie and Freddie.
Ever since Rep. Jeb Hensarling (R-Texas) and Rep. Maxine Waters (D-Calif.) were named the chairman and ranking member of the House Financial Services Committee late last year, Capitol Hill observers have waited for the two members of Congress and their polar opposite ideologies to clash publicly.
Rep. Maxine Waters says she'll invoke rules in response to House Financial Services Committee testimony ban by Texas Republican.
House Financial Services Committee chair says "there is no legally appointed director of the CFPB at this time."
Texas Republican Jeb Hensarling votes to stop NLRB activity and questions CFPB legality.
Commmittee Chair Hensarling reiterates aim to eliminate Fannie Mae, Freddie Mac as government-sponsored enterprises.
Panel to discuss how government policy at Fannie and Freddie played role in housing collapse and financial crisis.
WASHINGTON — House Financial Services leadership had good news for credit unions during CUNA Governmental Affairs Conference general sessions, with congressional leaders expressing support for legislative causes that are near and dear to credit unions.
Despite what almost everyone agrees is the deep importance of the topic, credit unions have become largely ambivalent about reforming the secondary mortgage market and uncertain about potentially disrupting a system which seems to be working well, according to executives with credit union organizations familiar with the issue.