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CFBP Director Richard Cordray will testify before the House Financial Services Committee on the agency's semi-annual report this afternoon. CFPB reports to Congress twice a year on its activities.

NAFCU will follow the hearing for potential updates on CFPB rulemaking to come, the bureau's structure and proposals to increase the asset-size threshold of financial institutions subject to direct CFPB supervision.

Also this afternoon, the Senate Banking Committee will discuss "Federal Reserve Accountability and Reform," with testimony from representatives of Stanford University, Stanford Law School, the American Enterprise Institute, and Carnegie Mellon University. Last week, Fed Chairman Janet Yellen faced questions about the Fed's policymaking and independence; Sen. Bob Corker, R-Tenn., has meanwhile spoken out against proposals that he thinks would unwisely insert Congress into policy affecting financial markets.

Other key hearings include:

• a hearing today by the Energy and Commerce Subcommittee on Oversight and Investigations on "Understanding the Cyber Threat and Implications for the 21st Century Economy"; and
• a hearing Thursday by the House Small Business Subcommittee on Economic Growth, Tax and Capital Access on improving capital access programs within the Small Business Administration.