FHFA Director Nomination Hearing Scheduled This Week

The House and Senate are back in session this week and will consider various legislation. The Senate Banking, Housing, and Urban Affairs Committee will conduct a nomination hearing on Sandra Thompson to be Director of the Federal Housing Finance Agency Thursday.

Thompson has served as FHFA acting director since June. President Joe Biden nominated her to serve as director in December. CUNA has met with Thompson repeatedly on credit union housing finance priorities, but does not take a position on presidential nominations.

Thompson has spent more than four decades in the government. She has worked at the FHFA since 2013, most recently as deputy director of the Division of Housing and Mission Goals. In that role, she oversaw regulatory policy, financial analysis, fair lending and all mission activities for Fannie Mae, Freddie Mac and the Federal Home Loan banks.

She previously spent 23 years at the Federal Deposit Insurance Corp., ultimately serving as director of risk management supervision. During the financial crisis, Thompson led the FDIC’s examination and enforcement program for risk management and consumer protection.

Other hearings CUNA is engaged with this week include:

• Thursday, 9:30 a.m. ET: Senate Special Committee on Aging hearing, “Financial Literacy: Addressing the Unique Just-in-Time Decisions Older Americans and People with Disabilities Face.”
• Thursday, 10 a.m. ET: Senate Banking, Housing, and Urban Affairs Committee nomination hearing on Jerome Powell to be chairman and Lael Brainard to be vice chairman of the Federal Reserve Board of Governors.