The MReport Webcast: Friday 3/27/2015

The House Financial Services Committee approved 11 bipartisan bills today, aimed at providing community banks and credit unions some regulatory relief. According to Committee Chairman Jeb Hensarling, since the introduction of the Dodd-Frank Act, banks have been struggling to survive due to stricter regulation. Hensarling noted the 11 bills passed by the Committee had bipartisan support and had previously been approved by either the Financial Services Committee or the House of Representatives during the 113^th Congress.

The chairman of the financial institutions and consumer credit subcommittee, Representative Randy Neugebauer, applauded the HFSC for passing the bills, saying these regulatory bills will help Main Street financial institutions. Of the bills approved, one would allow credit unions to apply for membership with the Federal Home Loan Banks. Two other bills would alter the definition of mortgage rules, while another would exempt small mortgage servicers from certain regulatory requirements. The Bureau of Consumer Financial Protection Advisory Boards Act would establish advisory committees at the CFPB.

Edward Golding, a senior adviser at the U.S. Department of Housing and Urban Development has been named by the White House as the leader of the Federal Housing Administration, according to HUD. The Department confirmed on Thursday that Biniam Gebre will be stepping down from his role as acting commissioner of FHA and that Golding will be taking over the duties of that office. HUD confirmed that Golding's new title will be principal deputy assistant secretary and that he will assume that post on April 7.