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Treasury Department Counselor Craig Phillips is expected to leave the department next month, according to Politico. NAFCU has met with Phillips several times on housing finance issues, most recently in March.

During that meeting, the association and Phillips discussed general housing finance reform efforts, as well as congressional efforts to modernize the Community Reinvestment Act (CRA) – including NAFCU's strong opposition to extending CRA regulations to credit unions.

The Trump Administration just days later issued a presidential memorandum initiating reforms to the housing finance system; Treasury's report as directed by this memo is expected to be released this summer.

NAFCU also met with Treasury's Housing Policy staff in March to discuss housing finance reform efforts.

Phillips previously indicated that the Trump administration is working on housing finance reform and plans to build on recommendations released in June 2018. NAFCU has called on the administration to work with Congress to develop a comprehensive solution to reforming the housing finance system.

NAFCU will continue to lead housing finance reform efforts to ensure credit unions' unfettered access to the secondary mortgage market.

The association had also engaged with Phillips on fintech, and Phillips spoke at NAFCU's Congressional Caucus in 2017.