Key insight: The OCC is proposing relaxing its toughest category of supervision, limiting the heightened prudential standards to only the very largest firms. Processing Content Supporting data: The rule would raise the asset threshold from $50 billion to $700 billion, cutting the number of covered banks from 38 to eight. Forward look: The move makes […]
OCC moves to limit toughest standards to megabanks Read More »
Key Insight: One of the most consequential developments will be President Donald Trump’s choice to replace Fed Gov. Stephen Miran, because whomever Trump selects is likely to also serve as the next Fed chairman after Fed Chair Jerome Powell’s term expires in May. Expert Quote: “If the FOMC is no longer acting purely neutrally with
The coming year will be pivotal for the Federal Reserve Read More »
Federal Home Loan Bank members’ borrowing as a share of total assets increased in stressed environments but the majority did not see excessive increases like Silvergate’s, the Government Accountability Office found. Processing Content Former warehouse lender-turned-crypto specialist, Silvergate Bank, was an outlier in increasing its ratio 33% just before the 2023 crisis which led to
FHLB borrowing share stayed range-bound in 2023 for most Read More »
Key insight: A group of 22 state attorneys general — all Democrats — filed a lawsuit against the Consumer Financial Protection Bureau, Federal Reserve and acting CFPB director Russell Vought, challenging the administration’s position that the Fed can only fund the CFPB when the Fed itself is profitable. Expert quote: “The failure to request funding
Democratic AGs file suit demanding CFPB funding Read More »
A key Senate leader is requesting records surrounding the cancellation of second mortgages following the Great Financial Crisis and asking whether the loans were sold to collections agencies in violation of a major legal settlement. Processing Content In a request sent to the independent monitor responsible for oversight of the 2012 National Mortgage Settlement, Sen.
Warren probes whether banks sold forgiven ‘zombie’ seconds Read More »
Senate confirmations have officially filled key leadership posts at Department of Housing and Urban Development entities, ending formal vacancies that have taken most of the year to fill. Processing Content Ginnie Mae President Joe Gormley and Federal Housing Administration Commissioner Frank Cassidy are industry veterans that have been serving in acting roles for much of
Senate confirms key leaders at Ginnie Mae, FHA Read More »
Key insight: The Federal Reserve is loosening its reins on crypto activities allowed for banks, with particular attention paid to noninsured state-chartered banks. What’s at stake: Custodia, a special purpose depository institution, has been engaged in a lawsuit against the Fed over the central bank’s denial of Custodia’s application for a master account. Expert quote: “I cannot agree
Fed rescinds Biden-era crypto guidance Read More »
A House of Representatives committee advanced a piece of legislation Wednesday aimed at addressing affordability issues in the housing market. Processing Content A markup of the bipartisan Housing for the 21st Century Act was passed, 50-to-1, by the House Financial Services Committee, setting up a potential floor vote early next year. The committee also unanimously
House advances markup set to improve housing affordability Read More »
President Donald Trump looked to reassure Americans concerned about the rising cost of living by announcing plans to award a special holiday payment to military service members and roll out new housing reforms in the new year. Processing Content Trump announced the plans Wednesday during a prime-time address from the White House, which he used
Trump announces military ‘warrior dividend,’ housing reform Read More »
Kenny Smith, a former Deloitte Consulting vice chairman is the new CEO of Freddie Mac, the company announced. He starts his new position on Dec. 17. Processing Content Michael Hutchins, who occupied the seat twice on an interim basis, will remain as Freddie Mac’s president. Hutchins had replaced Diana Reid after she was ousted in
Freddie Mac appoints Kenny Smith as latest CEO Read More »