The House Financial Services Committee has announced that it will hold the following hearings this month:

• On January 14, the Subcommittee on Consumer Protection and Financial Institutions will hold a hearing entitled, “The Community Reinvestment Act: Reviewing Who Wins and Who Loses with Comptroller Otting’s Proposal.”  
• On January 30, the full Committee will hold a hearing entitled, “Rent-A-Bank Schemes and New Debt Traps: Assessing Efforts to Evade State Consumer Protections and Interest Rate Caps.”  (The hearing is likely to address the rules proposed by the OCC and FDIC in November 2019 to eliminate the uncertainty created by the Second Circuit’s decision in Madden v. Midland Funding.  Click here to read our blog about the proposals.)
• On January 31, the Task Force on Financial Technology will hold a hearing entitled, “Is Cash Still King? Reviewing the Rise of Mobile Payments.”