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A hearing on implementation of the 2012 Biggert-Waters Flood Insurance Act has been added to this week's hearing schedule for the House Financial Services Committee, which has also slated a subcommittee hearing the same day on disparate impact.

The 2012 flood insurance reforms include triggers for increases in federal flood insurance premiums, and NAFCU is urging action to stop those increases while a mandated affordability study is completed.

NAFCU will monitor the above hearings, both set for Tuesday. The flood insurance hearing will include testimony from Craig Fugate, administrator of the Federal Emergency Management Agency. Representatives from the National Wildlife Federation, National Association of Realtors, National Association of Home Builders and American Action Forum are also slated to appear.

NAFCU joined with 15 other groups Friday in seeking a summit on the 2012 NFIP reform provisions.

In other hearings this week:

• The "Fundamentals of Transferring Credit Risk in a Future Housing Finance System" will be discussed Tuesday in a hearing of the Senate Banking Committee. Slated for 10 a.m. Eastern, this will include witnesses from the Federal Housing Finance Agency, Mortgage Guaranty Insurance Corporation, Barclays, and the Urban Institute Housing Finance Policy Center.
• "The Present and Future Impact of Virtual Currency" is the topic of a Senate Banking subcommittee hearing Tuesday. This hearing focuses on Bitcoin and will include testimony from the Financial Crimes Enforcement Network.
• "Housing Finance Reform: Powers and Structure of a Strong Regulator" will be addressed in a Senate Banking Committee hearing Thursday.

A House Judiciary subcommittee hearing is also set for tomorrow on "The Rise of Innovative Business Models: Content Delivery Methods in the Digital Age."