On July 12, 2017, a subcommittee of the House Financial Services Committee will hold a hearing entitled “Examining Legislative Proposals to Provide Targeted Regulatory Relief to Community Financial Institutions.” The Subcommittee on Financial Institutions and Consumer Credit will examine nine bills that include bills that would: (1) amend the FDCPA, including by classifying debt buyers as “debt collectors” and subjecting debt collectors for federal agencies to FDCPA requirements, (2) require the GAO to study debt collection practices at the federal, state, and local levels; (3) repeal the CFPB’s UDAAP enforcement authority and raise the CFPB’s large depository institutions supervisory threshold to institutions with assets of $50 billion or more, and (4) amend various TILA mortgage-related provisions such as escrow and appraisal requirements. All nine bills are described in more detail in the Subcommittee Memorandum.
The witnesses scheduled to appear at the hearing are:
- Robert Fisher, President & CEO of Tioga State Bank on behalf of the Independent Community Bankers of America
- Rick Nichols, President & CEO of River Region Credit Union on behalf of the Missouri Credit Union Association
- J.W. Verret, Senior Affiliated Scholar and Associate Professor, George Mason University School of Law