In what was most likely its final markup session of this Congress, the House Financial Services Committee on September 16 approved eight bills, most prominently the Consumer Financial Protection Accountability and Reform Act, sponsored by Andy Barr (R-KY) and Chairman French Hill, which would make a series of key changes to the Consumer Financial Protection Bureau (CFPB), a longtime target of criticism from congressional Republicans. The committee also approved:

• HR 10184, the Consumer Financial Protection Accountability and Reform Act
• HR 1653, the Civil Investigative Demand Reform Act
• HR 10234, the Consumer-Led Enhancement of Annuity and Insurance Registration (CLEAR) Forms Act
• HR 4936, the Taskforce for Recognizing and Averting Payment Scams (TRAPS) Act
• HR7866, the American Lending Fairness Act
• HR 8957, the American Reserve Modernization Act
• HR 5889, the Eviction Helpline Act
• HR 7030, the Securing Facilities for Mental Health Services Act

Materials related to the markup are posted here. Notably the committee defeated, on a party-line vote of 21-28, HR 10325, a bill by Ranking Member Maxine Waters (D-CA) that would have increased the mandatory contribution amount of Federal Home Loan Banks to the Affordable Housing Program from 10% to 15%, starting this year.

With strong Democratic opposition, the CFPB bill is unlikely to move in the Senate this Congress. With the House having recessed until after the midterm elections, and floor time likely at a premium in the lame-duck session, HR 10184 also appears a long shot to be considered on the House floor for the remainder of the 119th Congress.

Additional information is available in the attached WCEY Alert.