Senate Banking Eyes Mortgages, Appraisals, Exams And More

Mortgage origination, appraisals, examinations, interactions with the Consumer Financial Protection Bureau and risk management will be among the issues of interest to credit unions that will be examined by the Senate Banking Committee in the 113th U.S. Congress, Committee Chairman Tim Johnson (D-S.D.) said in a Tuesday release.

The release said the committee would also continue to review the examination policies of federal financial regulators, ensuring that examinations are balanced in a manner that does not discourage prudent lending while promoting consumer protection and safety and soundness. Financial data security, Wall Street reform oversight and housing finance and consumer protection issues will also be high on the committee’s list of priorities.

“The committee has important work to do in the 113th Congress, and I intend to work across the aisle to build consensus and find solutions to strengthen and sustain our economic recovery,” Johnson said. He noted the committee has a proud history of bipartisanship. “From protecting consumers and taxpayers from Wall Street abuses, to providing the Federal Housing Administration with additional tools to manage its finances while continuing to serve American families, I believe we can and must find common ground,” he added.

Johnson said the committee plans to monitor and potentially address consumer financial services, including:

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