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In Capitol Hill today:
Federal Reserve Chair Janet Yellen is scheduled to face the Joint Economic Committee at 10 a.m. ET to testify on the nation's economic outlook.
At the same time, the Subcommittee on Housing and Insurance will conduct a hearing entitled, "Sustainable Housing Finance: The Role of Ginnie Mae in the Housing Finance System." At 2 p.m. ET, the Subcommittee on Financial Institutions and Consumer Credit and the Subcommittee on Terrorism and Illicit Finance will hold a joint hearing entitled, "Legislative Proposals to Counter Terrorism and Illicit Finance."
President Donald Trump scored a victory in the power struggle over the embattled Consumer Financial Protection Bureau. A federal court denied deputy director Leandra English's emergency motion for a temporary restraining order on Trump's appointment of Mick Mulvaney as the bureau's acting director. The fight may not be over yet, as English could still appeal the court ruling.
The Mortgage Bankers Association warned that a provision in the Senate tax reform bill requiring mortgage servicing rights to be...