House Financial Services Committee

The coronavirus relief law allows forbearance plans for up to a year on federally backed mortgages, but House Democrats say homeowners have had difficulty getting relief.

Democrats’ latest proposal to back debt collectors, enable loans for nonprofits and provide other relief could help steer negotiations with the Senate on more stimulus.

Financial institutions could testify before the bipartisan commission overseeing the unprecedented economic aid for industries hit by the COVID-19 pandemic. But without subpoena authority, the panel’s impact may be limited.

The $2 trillion deal passed by the Senate late Wednesday would aim to put banks and consumers alike on stronger financial footing as they weather the coronavirus pandemic.

The Trump administration proposes cutting personnel and other budgetary items at the bureau, while the agency’s director — who controls the purse strings and was hand-picked by the administration — aims to boost spending and hire more employees.

The agency has named Thomas G. Ward as the bureau's assistant director for enforcement. House Democrats have questioned Ward's role as a political appointee in the Trump administration.

The six bills championed by Democrats aim to reduce consumer burdens and provide opportunities for borrowers to rehabilitate their credit, but the legislation garnered no Republican support.

House Democrats described the disparate impact standard as "the most important tool" for enforcing the Fair Housing Act.

The House Financial Services chair is sponsoring a bill with one of the Democratic presidential contenders aimed at alleviating the public housing capital backlog.

Fannie Mae and Freddie Mac’s exemption from the Qualified Mortgage rule is on borrowed time, but a House bill would allow lenders to use the mortgage giants’ guidelines for documenting borrower income.

A group of 64 House lawmakers is pushing congressional leadership to incorporate premium caps and address a new methodology for assessing risk in flood insurance reform legislation.

A hearing on legislative proposals exposed a sharp partisan divide over a regulatory plan to restrict the frequency of collection calls.

The House Financial Services Committee passed a bill that would exclude adverse credit information for consumers impacted by a government shutdown.

The legislation takes aim at third-party bank service vendors, the backlog of FHA appraisals, rural housing assistance and other issues where there is broad agreement.

Wisconsin Republican Sean Duffy routinely pushed to restructure the Consumer Financial Protection Bureau and authored a bill to reform the flood insurance program.

The bill, similar to legislation that passed the chamber last year, would permit the inclusion of items such as rent and telecom payments to help consumers build their credit profiles.

A bill by Rep. Patrick McHenry, R-N.C., would give the CFPB authority to oversee cybersecurity efforts at the credit bureaus.

Members from states threatened by storms say their proposal is better for consumers than recent legislation passed by the House Financial Services Committee.

The chamber passed a bill that would clarify how certain loans backed by the Department of Veterans Affairs are securitized, and legislation encouraging first-time homebuyers to participate in counseling programs.

House Financial Services Committee Chairwoman Maxine Waters and Rep. Patrick McHenry, the top GOP panel member, said Facebook must testify about Project Libra.