WASHINGTON—Maxine Waters (D-CA), chair of the House Financial Services Committee, has released the committee’s Fall 2019 priorities and indicated that the committee will "continue its work to ensure fairness, competition, and transparency."
Included in the committee's priorities are hearings examining the state of minority depository institutions, reviewing stock buybacks, and analyzing innovations in loan instruments. The committee also plans to review housing finance reform and the Federal Housing Administration.
The White House, in conjunction with the FHFA and the Treasury Department, is expected to release a final plan to reform the government-sponsored enterprises after Labor Day, noted NAFCU, which added it will continue to push for equal access to the housing market for credit unions and emphasize the role credit unions play in ensuring the safety and soundness of the nation's housing market.
The committee said it also plans to "encourage and regulate innovation" through the use of its two task forces – one on fintech and one on artificial intelligence – exploring data privacy, the use of artificial intelligence in financial services, and the evolution of payments and cash.