Financial Services Week Ahead February 9-13

House of Representatives:

 

House Financial Services Committee:

 

Wednesday, February 11, 2015 at 10:00 a.m. in HVC 210 – Hearing entitled “The Future of Housing in America: Oversight of the Federal Housing Administration.” Full Committee.

Witness List

  • The Honorable Julian Castro, Secretary, U.S. Department of Housing and Urban Development

 

Comments:

 

Hearing in response to FHA’s recent announcement to reduce its insurance premiums by .5 percent. The FHA’s mortgage insurance premiums had become so expensive that last year alone, roughly 234,000 creditworthy borrowers were priced out of the market.  Chairman Hensarling is very opposed this initiative and will focus the hearing on the solvency of the FHA insurance fund.

 

House Appropriations Committee:

 

Wednesday, February 11, 2015 at 10:00 am in 2362-A Rayburn – Hearing entitled “Commodity Futures Trading Commission Budget.” Subcommittee for Agriculture, Rural Development, FDA, and Related Agencies.

Witness List

  • CFTC Chairman Timothy Massad

Comments: 

 

CFTC is seeking a 29 percent increase in their budget to $322 million for FY 2016.

 

House Judiciary Committee:

Thursday, February 12, 2015 at 10:30 a.m. in 2141 Rayburn HOB – Hearing entitled “Consumers Shortchanged? Oversight of the Justice Department’s Mortgage Lending Settlements.” Subcommittee on Regulatory Reform, Commercial and Antitrust.

 

Witness List

  • Mr. Geoffrey Gaber, Deputy Associate Attorney General and Director of the RMBS Working Group of the Financial Fraud Task Force, US Dept of Justice
  • Additional witnesses TBA

 

Comments: 

The hearing will examine startling terms in the Justice Department’s two recent mortgage-lending settlements with Bank of America and Citigroup, including a requirement that the banks donate over one hundred million dollars to a list of eligible activist groups. Eligible groups include La Raza and NeighborWorks, an organization that has been described as “fund(ing) a national network of left-wing community organizers operating in the mold of Acorn.”

 

House Agriculture Committee:

Thursday, February 12, 2015 at 10:00 a.m. in 1300 Longworth HOB – Hearing entitled “2015 CFTC Agenda.” Full Committee.

 

Witness List

  • TBA – Likely to be CFTC Chairman Timothy Massad

Comments:

 

CFTC implementation of the Dodd-Frank rules and related “tweaks” to those rules to address the concerns of end-users and market participants.  Other issues involve swap guarantees, block trades, and NDF clearing.

 

House Homeland Security Committee:

 

Thursday, February 12, 2015 at 10:00 a.m. in 311 Cannon HOB – Hearing entitled “Emerging Threats and Technologies to Protect the Homeland.” 

Subcommittee on Cybersecurity, Infrastructure Protection, and Security Technologies.

 

Witness List

  •        Mr. Andy Ozment, Assistant Secretary, Office of Cybersecurity and Communications, National Protection and Programs Directorate, U.S. Department of

Homeland Security

  •        Dr. Huban Gowadia, Director, Domestic Nuclear Detection Office, U.S. Department of Homeland Security
  •       Mr. Joseph Martin, Acting Director, Homeland Security Enterprise and First Responders Group, Science and Technology Directorate, U.S. Department of

Homeland Security

  •        Mr. William Noonan, Deputy Special Agent in Charge, Criminal Investigative Division, United States Secret Service

 

Comments:

 

The committee is seeking new ways to protect the US cyber infrastructure from hackers.

 

US Senate:

 

Senate Banking Committee:

 

Tuesday, February 10, 2015 at 10:00 a.m. in Dirksen SOB – Hearing entitled “Regulatory Relief for Community Banks and Credit Unions.”

 

Witness List

  • Mr. Toney Bland, Senior Deputy Comptroller for Midsize and Community Bank Supervision, Office of the Comptroller of the Currency
  • Ms. Doreen Eberley, Director of Risk Management Supervision, Federal Deposit Insurance Corporation
  • Mr. Larry Fazio, Director, Office of Examination and Insurance, National Credit Union Administration
  • Ms. Candace Franks, Commissioner, Arkansas State Bank Department on behalf of the Conference of State Bank Supervisors
  • Ms. Maryann Hunter, Deputy Director of the Division of Banking Supervision and Regulation, Board of Governors of the Federal Reserve System

 

Wednesday, February 12, 2015 at 10:00 a.m. in Dirksen SO– Hearing entitled “Regulatory Relief for Community Banks and Credit Unions.”

 

Witness List

  • Mr. R. Daniel Blanton, Chief Executive Officer, Georgia Bank & Trust, and Chairman-Elect of the American Bankers Association
  • Mr. Wally Murray, President and Chief Executive Officer, Greater Nevada Credit Union, on behalf of the Credit Union National Association
  • Mr. John H. Buhrmaster, President and Chief Executive Officer of the 1st National Bank of Scotia and Chairman of the Independent Community Bankers of America
  •  Mr. Ed Templeton, President and Chief Executive Officer, SRP Federal Credit Union, and Chairman of the National Association of Federal Credit Unions
  • Mr. Michael D. Calhoun, President, Center for Responsible Lending

 

Comments:

 

Two part hearing series to ease burden for banks under $10 billion in assets and credit unions.  Expect discussion on Dodd Frank regulatory relief, operation choke point, member business lending, collateral loan obligations, credit union member business lending, and CFPB reform issues.

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