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NAFCU continues to monitor hearings on Capitol Hill this week, including two House committee discussions on patent reform and the state of the Federal Housing Administration.

The House Energy and Commerce Subcommittee on Commerce Manufacturing and Trade hearing, "Update: Patent Demand Letter Practices and Solutions," is slated for 10:15 a.m. today.

NAFCU reiterated credit unions' growing concerns about patent-trolls' demand letters and the need for legislative relief in a letter Tuesday to the subcommittee from Carrie Hunt, the association's senior vice president of government affairs and general counsel.

Legislation is needed "to alter the intimidating business model used by these patent assertion entities," Hunt said, adding that NAFCU will continue to support Congress' efforts to curb such activity. On Wednesday, NAFCU also signed onto a joint letter to the subcommittee leaders, with other financial trade organizations, advocating patent reform on behalf of financial institutions.

Also today, the House Financial Services Committee will meet again for a hearing titled "The Future of Housing in America: Oversight of the Federal Housing Administration – Part II." Earlier this month, NAFCU drew lawmakers' attention to FHA's three-year lockout policy, noting concerns that it encourages strategic default by homeowners who could repay their mortgages. FHA's lockout period is far shorter than Fannie Mae's seven-year lockout period.