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Home | Tag Archives: House Financial Services Committee

Tag Archives: House Financial Services Committee

CFPB Will Take a ‘Diagnostic’ Approach to Those Trying to Comply With TRID


*+-Rep. Brad Sherman (D-California) questioned Cordray on the CFPB's much anticipated TILA-RESPA Integrated Disclosure (TRID) rule, which is scheduled to go into effect on Saturday, October 3, and has left those in the mortgage industry scrambling to be compliant in time with that date despite a two-month postponement from the rule's original effective date of August 1.

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Fed Likely to Raise Rates By Year’s End If ‘Economy Evolves’ As Expected


*+-In both hearings, Yellen addressed the subject of the much-anticipated federal funds range increase; Thursday before the Senate Banking Committee, she reiterated that more economic improvement, particularly in the labor market, is needed along with confidence that the objective of 2 percent inflation can be met over the medium term. She said the Federal Open Market Committee (FOMC) would determine on a meeting-by-meeting basis if progress toward that goal is sufficient enough to raise the rates.

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Congressional Hearings to Cover Economy, Monetary Policy, and Agencies’ Activities


*+-On Wednesday, July 15, the House Financial Services Committee will receive the testimony of Fed Chair Janet Yellen in a full Committee hearing titled "Monetary Policy and the State of the Economy." Chair Yellen will update the Committee on the progress of the economy toward meeting the four benchmarks for the economy as set by the Full Employment and Balanced Growth Act (Humphrey Hawkins) Act of 1978.

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Witnesses at House Committee Hearing Testify of Dodd-Frank’s Adverse Effects


*+-The hearing, titled "Dodd-Frank Five Years Later: Are We More Stable?" was the first in a series of three full Committee hearings to examine the impact Dodd-Frank has had on American consumers and the country's financial system and economy since President Obama signed it in to law in July 2010. The focus of Thursday's hearing was on how the 400 new regulations enacted in the 2,300-page law is a threat to the country's financial stability.

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