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The House Financial Services Committee gives prominent mention to Dodd-Frank Act reform and reform for the CFPB's scope and funding in a "views and estimates" document the panel is slated to approve during a mark-up session that begins today at 10 a.m. Eastern.

The document outlines the committee's views and estimates on issues under its authority and will be submitted to the House Budget Committee. It provides an overview of policy being sought by the panel in the current Congress. The committee plans, among other things, to:

• act on the "Financial CHOICE Act" to replace the Dodd-Frank Act;
• seek elimination of the Office of Finance Research, which the committee views as redundant;
• revise the CFPB's structure and funding (including making CFPB funding subject to the congressional appropriations process);
• review the Federal Housing Administration for ways to complement "a robust private mortgage market";
• explore legislative initiatives to reform the National Flood Insurance Program and facilitate establishment of a private flood insurance market.

Regarding the CFPB, NAFCU continues to urge the bureau to exempt credit unions from more of its regulations under its current, statutory authority to do so. NAFCU was the only financial services trade association during the drafting of the Dodd-Frank Act to oppose subjecting any credit union to CFPB regulation.