Bess Adler/Bloomberg Key insight: Federal Reserve Gov. Christopher Waller’s comments suggest the barriers to nonbank firms acquiring a “skinny” Fed master account — a concept Waller himself introduced late last month — may be higher than were previously assumed. Expert Quote: “There’s a misunderstanding out there that somehow just a fintech can show up and […]
Waller hedges on nonbank access to ‘skinny’ master account Read More »
Housing discrimination complaints were close to their two-decade high in 2024, alarming advocates concerned about a pull-back in enforcement, the National Fair Housing Alliance said. Its 2025 Fair Housing Trends Report found 32,321 discrimination complaints were filed in the prior year. While this was lower than the 34,150 complaints received for 2023, it is still
Fair housing complaints stay near historic peak in 2024 Read More »
The Mortgage Bankers Association largely supports the Federal Housing Finance Agency reduction of certain low-income single-family finance goals for the government-sponsored enterprises. But the one goal that was not changed in the proposal from the agency called U.S. Housing Finance by its director, the single-family low-income refinance goal, might not be attainable due to market
Fannie Mae, Freddie Mac housing goals need revisions: MBA Read More »
Key insight: Gould argued the OCC can only ensure fair oversight by admitting qualified fintechs and crypto firms through national trust charters, saying regulation outside the perimeter is impossible. Supporting data: He acknowledged concerns over fairness as the OCC reviews trust charters like Coinbase’s and said Dodd-Frank narrowed the “scope of banking relevance,” driving innovation
Gould backs charters to bring nonbanks into regulatory fold Read More »
Key Insight: Fed Vice Chair for Supervision Michelle Bowman said she wants banks to have an even playing field with nonbanks when it comes to holding digital assets, though stressed this should be done in a way that promotes safety and soundness. Expert quote: “We want to make sure [banks are] engaging in a way that separates
Fed’s Bowman seeks level field for banks on digital assets Read More »
The inspector general of the Federal Housing Finance Agency has reportedly been ousted, leaving vacant a key internal overseer. Acting IG Joe Allen is being removed from his role, Reuters reported Monday afternoon, citing four unnamed sources. Allen, the Office of Inspector General’s chief counsel and a longtime Department of Justice employee, replaced former Biden
FHFA’s internal watchdog reportedly ousted Read More »
Analysts at Bank of America Securities say they are in the minority in believing Fannie Mae and Freddie Mac should return to serving as the main backstop buyers of agency mortgage-backed securities. BofA Securities has said the return of the GSEs as major MBS purchasers “would be welcomed in managed form, particularly given their retained
Fed, not GSEs, should be mortgage securities backstop: BofA Read More »
Fannie Mae has staged a new round of layoffs impacting 62 people viewed as working in noncore functions, according to Federal Housing Finance Agency Director Bill Pulte’s social media post. Pulte, who has said he posts announcements informally on social media platforms like X first to provide immediate transparency, indicated that the cuts were made
Fannie Mae laying off 62 in DEI, COO, and other units: Pulte Read More »
Key Insight: The October Federal Open Market Committee cut interest rates by 25 basis points as expected, but comments from Chair Jerome Powell caught market watchers off guard, casting doubt on the likelihood of another rate cut in December. Expert Quote: “There were strongly differing views about how to proceed in December. A further reduction
Fed’s rate cut trajectory unclear as dueling dissents emerge Read More »
Russell Vought, acting director of the Consumer Financial Protection Bureau, also heads the Office of Management and Budget.Andrew Harrer/Bloomberg Key Insight: The rescission of the two nonbank registries is in line with the Trump administration’s deregulatory posture. What’s at Stake: Nonbank technology companies are no longer a target of the CFPB. Supporting Data: Acting CFPB
CFPB kills two Biden-era nonbank registries, citing costs Read More »