Hearings ahead on CFPB, NFIP, housing finance
Sept. 26, 2013 – October’s congressional hearing schedule is taking shape, with the House Financial Services Committee scheduling hearings on the National Flood Insurance Program and CFPB transparency, and the Senate Banking Committee looking at the market for private-label mortgage securities.
House Financial Services Committee Chairman Jeb Hensarling, R-Texas, announced his committee’s hearing schedule Wednesday. The CFPB hearing will be hosted by the Financial Institutions and Consumer Credit Subcommittee and will focus on “legislative proposals to bring more accountability, reform and transparency” to the bureau. That subcommittee will also host a hearing on underbanked areas.
The Housing and Insurance Subcommittee will hold the hearing on the status of the NFIP. Two other scheduled hearings will focus on international central banking models and on “legislation to further reduce impediments to capital formation.”
Senate Banking Committee Chairman Tim Johnson, D-S.D, announced the full-committee hearing titled “Housing Finance Reform: Fundamentals of a Functioning Private Label Mortgage Backed Securities Market” to be held Oct. 1. That hearing will feature witness testimony from a Georgetown University law professor and the CEO and director of Redwood Trust Inc.