(RECAP: By a vote of 239-185, the House of Representatives has approved a fiscal year 2017 appropriations bill that contains various provisions intended to curb the CFPB’s authority. Those provisions would fund the CFPB through the annual congressional appropriations process rather than through transfers from the Federal Reserve as currently provided by Dodd-Frank and change the CFPB’s leadership structure from a single Director to a five-member Board of Directors appointed by the President.)

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(RECAP: U.S. Sens. Mark R. Warner (D-VA) and Bob Corker (R-Tenn.), members of the Senate Banking Committee, were joined by Senate colleagues in authoring a bipartisan letter to the director of the Federal Housing Finance Agency (FHFA). The letter encouraged Director Mel Watt to avoid taking steps that may facilitate the release of government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac out of conservatorship without comprehensive reform.)

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(RECAP: The chairman of the House Financial Services Committee has denounced major policy changes that HUD is making to the sale of government-insured nonperforming loans. Last month, HUD announced more than 10 changes to the program, including a requirement that buyers of FHA-insured nonperforming loans evaluate borrowers for principal reductions. But Rep. Hensarling (R-Texas) said the policy changes would help special interests at the expense of taxpayers. A press release from the House Financial Services Committee posits that HUD Secretary Julian Castro pushed the changes “to appease liberal critics and bolster his chances of being selected as Hillary Clinton’s running mate. Hardworking taxpayers deserve to know why Secretary Castro suddenly chose to expose them to greater losses and worsen the nation’s already unsustainable national debt,” Hensarling said Thursday.)

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