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NAFCU this week will closely monitor hearings covering housing finance reform and the regulatory regime of the Bank Secrecy Act and anti-money laundering. Today, NAFCU staff will attend a Small Business Administration advocacy roundtable on upcoming rulemakings.

The SBA roundtable on upcoming rulemaking will include a discussion on section 1071 of the Dodd-Frank Act, which would require financial institutions to collect and report certain information, such as whether the business is a small business and women- or minority-owned, and give this information to the CFPB. The roundtable will also discuss the current review of the CFPB's mortgage servicing and qualified mortgage/ability-to-repay rules. NAFCU Regulatory Affairs Counsels Ann Kossachev and Andrew Morris will attend today's meeting.

NAFCU will also be watching a House Small Business Subcommittee on Economic Growth, Tax, and Capital Access hearing Thursday titled "A Review of SBA's 504/CDC Loan Program."

Regarding housing, the Senate Banking Committee on Thursday will hear from representatives of the Mortgage Bankers Association, Financial Services Roundtable and Center for Responsible Lending on principles of housing finance reform. Last week, NAFCU released its housing finance reform principles to all members of Congress and key members of the administration.

On Wednesday, the House Financial Services Subcommittee on Financial Institutions and Consumer Credit will examine the BSA and AML regulatory compliance regime.

In other Capitol Hill activities this week:

• Today, the House Defense Subcommittee on Appropriations will mark-up fiscal 2018 defense appropriation bills.
• The House Financial Services Subcommittee on Capital Market, Securities, and Investment on Tuesday will review the U.S. equity market in part one of a series of hearings. The panel will cover the evolution of today's equity market structure.
• On Wednesday, the House Financial Services Subcommittee on Monetary Policy and Trade will look at the Federal Reserve's impact on Main Street, retirees and savings.