On June 4, Rep. Maxine Waters (D-Calif.), ranking member of the Housing Financial Services Committee, addressed the present administration’s “aggressive” deregulatory campaign during the committee hearing entitled “Oversight of Prudential Regulators.”
On May 21, Sens. Elizabeth Warren (D-Mass.), ranking member of the Senate Banking, Housing, and Urban Affairs Committee, Jack Reed (D-R.I.), Lisa Blunt Rochester (D-Del.) and Raphael Warnock (D-Ga.), along with 17 others, sent a letter to Department of Housing and Urban Development Secretary Scott Turner, urging him to rescind the notice of proposed rulemaking entitled “Establishing Flexibility for Implementation of Work Requirements and Term Limits,” which they say would likely increase evictions, homelessness and administrative costs.
Rep. Maxine Waters (D-Calif.), ranking member of the House Financial Services Committee, announced a long list of Congressional Review Act resolutions introduced by the committee to restore critical Consumer Financial Protection Bureau guidance designed to protect consumers that were rescinded by the bureau’s acting director.
The Department of Housing and Urban Development (HUD) declared on May 5 that the Housing Authority of the city of Little Rock, Ark., was in substantial default for failing to meet the terms of its federally-mandated recovery agreement. As a result, HUD took possession of the housing authority’s programs, operations and assets and dissolved its locally appointed governing board of commissioners.
Sen. Adam Schiff (D-Calif.) led a group of Congress members in sending a letter requesting answers on the Consumer Financial Protection Bureau’s cancellation of a $25 million settlement with Citibank which addressed alleged discrimination against Armenian American consumers.
Sen. Jacky Rosen (D-Nev.) announced that she is leading a joint resolution of disapproval of the Consumer Financial Protection Bureau’s decision to end a rule for financial institutions that aimed to keep sensitive data secure and to boost cybersecurity safeguards, while Sen. Elizabeth Warren (D-Mass.) sent a letter to Elon Musk about his new payments platform, X Money, that launched in April.
Sens. Adam Schiff (D-Calif.), Peter Welch (D-Vt.), Jim Justice (R-W.Va.) and Cindy Hyde-Smith (R-Miss.) introduced the “Fostering the Availability in Rural Markets (FARM) of Home Loans Act,” bipartisan legislation designed to support rural economic growth by helping more homebuyers qualify for rural housing assistance.
Sen. Elizabeth Warren (D-Mass.), ranking member of the Senate Banking, Housing, and Urban Affairs Committee, sent a letter to Consumer Financial Protection Bureau acting Director Russell Vought, expressing concerns that banks are attempting to foreclose on families based on second mortgages that many homeowners believed were canceled, known as “zombie mortgages.”
Rep. Maxine Waters (D-Calif.), with the House Financial Services Committee, sent a letter to the House Democratic Caucus calling for a conference committee to formally reconcile the House- and Senate-passed versions of the “21st Century ROAD to Housing Act,” so that the bill can fully address the nation’s housing crisis.
President Donald Trump issued two executive orders, entitled “Removing Regulatory Barriers to Affordable Home Construction” and “Promoting Access to Mortgage Credit,” which aim to streamline federal permitting requirements for residential developments and to reform mortgage origination.
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