Government

While these changes are a step in the right direction Bullard did note, "more could be done. There appears to be some areas where we have sufficient information and experience to warrant additional action."

H.R. 1266, known as the Financial Product Safety Commission Act of 2015 and sponsored by Randy Neugebauer (R-Texas), would remove the CFPB from the Federal Reserve System and re-establish it as a stand-alone agency governed by a five-member, bipartisan commission. This bill passed the Committee by the vote of 35-24.

The Dodd-Frank Act still allows the Fed some of the same emergency lending programs used in the aftermath of the 2008 crisis despite the legislation's stated purpose of ending such bailouts, according to a study by Norbert J. Michel, Research Fellow in Financial Regulations, the Institute for Economic Freedom and Opportunity at the Heritage Foundation.

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.

Driven by a a trend of increasing household equity, the total value of the residential housing market nationwide rose to $22.7 trillion as of the end of Q2 2015, according to the Urban Institute's Housing Finance at a Glance report for September 2015 released Friday.

As Chairman of the House Financial Services Committee, Hensarling has been a major figure in housing finance reform for almost three years. He has been an outspoken opponent of the Dodd-Frank Wall Street Reform Act, having recently chaired a series of three hearings in the Committee on the impact of the controversial law five years since it was enacted.

According to the announcement, the bank was allegedly found in direct violation of the Equal Credit Opportunity Act (ECOA), which prohibits creditors from discriminating against applicants in credit transactions on the basis of characteristics such as race, color, and national origin.

An influential monetary policymaker said this week that it would be appropriate for the Federal Reserve to raise the federal funds target rate later this year despite declining to do so in the September meeting of the Federal Open Market ...

The hearing, titled "The Dodd-Frank Act Five Years Later: Are We More Free?" was the third in a series of hearings examining the impact of the controversial legislation on the prosperity, freedom, and financial stability of American consumers.

"In determining how long to maintain this target range, the Committee will assess progress—both realized and expected—toward its objectives of maximum employment and 2 percent inflation," the Fed said in a statement.