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The Senate Banking Committee, in a voice vote Tuesday, approved Ben Carson as secretary of the Department of Housing and Urban Development. Carson's nomination awaits final Senate approval.

During his nomination hearing earlier this month, Carson said he supports "some type of [government] backstop" for housing such as the government-sponsored enterprises, Fannie Mae and Freddie Mac. He also cited his concern that overregulation can have a negative impact on Americans' access to credit to buy homes, and he said he would lead HUD with a holistic approach to housing issues.

As talks for housing finance reform resurface in this new Congress, NAFCU continues to urge Congress to preserve credit unions' guaranteed access to the secondary mortgage market and fair pricing for credit union mortgage loans based on loan quality rather than volume.

Also Tuesday, the Senate Small Business and Entrepreneurship Committee questioned Linda McMahon, President Donald Trump's nominee to head the Small Business Administration.

McMahon said she supports the SBA being a standalone agency and believes that the agency's loan guarantee program is a key to unlocking small-business growth. McMahon also said the SBA should do more to support communities affected by natural disasters in its lending.

McMahon was the cofounder and a chief executive of World Wrestling Entertainment. She would replace current SBA Administrator Maria Contreras-Sweet.