House Dems Hold Separate Hearing on Dodd-Frank Replacement

Apr 28, 2017

A new bill introduced in the U.S. Senate by Sen. Catherine Cortez Masto (D-NV) and in the House by Rep. Nydia M. Velázquez (D-NY) seeks to reinstate Dodd-Frank Act reporting requirements

Democrats on the House Financial Services Committee are holding a “Minority Day Hearing” today to voice their disapproval of the Financial CHOICE Act, the Republican-backed bill that would make significant changes to the Dodd-Frank Act.

According to a press statement that sarcastically referred to the Republican bill as “the Wrong Choice Act,” the Democratic hearing will feature witnesses including Sen. Elizabeth Warren (D-MA) and Rev. Willie Gable, pastor of the National Baptist Convention USA Inc. The hearing is a rare case where the minority party in the House can select its own witnesses to discuss a proposed bill.

Rep. Maxine Waters (D-CA), the committee’s ranking member, stated that “Democrats are going to set the record straight” and accused her Republican colleagues of offering a “Wall Street giveaway bill” with their legislation.

About the author

Phil Hall

Link copied

Published

Apr 28, 2017

Operations

Wells Fargo Backs 3D-Printed Housing With New Financing Program

Qualified buyers can receive a 50-basis-point lender credit as the bank looks to support alternative housing construction

Wells Fargo is expanding its involvement in the 3D-printed housing sector, announcing it has been named a preferred home mortgage lender for ICON, a company specializing in advanced construction technology.Under the arrangement, qualified buyers who finance the purchase of a...

Non-QM

eRESI Rolls Out AI Guideline Search For Non-QM Lending

Correspondent sellers will receive complimentary access to Guideline Guru's platform, allowing real-time searches of eRESI underwriting guidelines and instant AI-generated answers

eRESI has partnered with Guideline Guru to provide correspondent clients with complimentary access to an artificial intelligence-powered tool that streamlines Non-QM guideline searches and accelerates loan decision-making.The partnership will make Guideline Guru available ac...

Jul

New Orleans, LA

More from

Regulation and Compliance

MISMO Launches AI Governance Framework For Mortgage Lenders

New FRAME toolkit gives lenders, servicers, and technology providers a roadmap for managing AI risk while supporting innovation

Regulation and Compliance

Jun 11, 2026

CFPB Tells Lenders Immigration Status Can Factor Into ATR Analysis

CFPB frames immigration status as a potential ability-to-repay factor when future U.S.-based income is at risk

Regulation and Compliance

Jun 10, 2026

UAD 3.6 Deadline Nears; First American Earns Verification

First American's ACI Sky Workbench gains verification ahead of the Nov. 2 implementation date for the GSEs' updated appraisal reporting requirements

Regulation and Compliance

Jun 08, 2026

MISMO Introduces New Loan Boarding Standard

Wrapper Files support standardized data transfers between origination and servicing systems, with potential savings of $60 to $160 per loan

Regulation and Compliance

May 29, 2026

The GLBA Compliance Gap Your AI Deployment Just Opened

Old statutes, new models, and the vendor contract you signed before machine learning became operational

Regulation and Compliance

May 26, 2026

FHA Keeps Tri-Merge Credit Reports While Expanding Approved Scoring Models

HUD says FHA lenders will continue using three-bureau credit reports even as the agency adopts newer scoring models aimed at increasing competition and modernizing mortgage underwriting

Regulation and Compliance

May 26, 2026

Popular