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CFPB Director Richard Cordray will testify before the House Financial Services Committee April 5 on the bureau's 2016 semiannual reports, which detail the bureau's activities. This will be Cordray's first appearance before the panel since last March.

Cordray is expected to appear before the Senate Banking Committee to discuss the same reports soon. While focused on the CFPB's annual reports, the April 5 hearing discussion could cover any of a wide range of issues.

Earlier this month, the Justice Department filed an amicus brief for the federal government in support of PHH Corp.'s contention that the CFPB's structure is unconstitutional.

The brief did not take a position on PHH's underlying challenge to the bureau's interpretation of the Real Estate Settlement Procedures Act. NAFCU and 12 other trade associations filed an amicus brief in support of PHH's case with regard to RESPA.

NAFCU will continue to monitor developments in this litigation.