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House Financial Services Committee Chairman Jeb Hensarling, R-Texas, indicated he plans to do more Dodd-Frank Act and CFPB reform work next year.

Reportedly, Hensarling is planning to focus on "too big to fail" and the designation of nonbank financial institutions as SIFIs, or systemically important financial institutions.

Last week, the House Financial Services Committee heard from members of the Financial Stability Oversight Council, including CFPB Director Richard Cordray and NCUA Chair Debbie Matz. Matz defended the council's process of designating SIFIs and of including nonbank organizations in the designation.

Hensarling is working on legislation addressing these issues, which The Hill reported last week may be ready by the spring.

The article also noted that the committee will restart work on housing finance reform in the coming year. NAFCU holds that any housing finance reform legislation should allow equal access to the market for credit unions and fair pricing based on loan quality as opposed to volume.