Federal Reserve Gov. Lisa Cook.Bloomberg News President Donald Trump’s unprecedented move to fire Federal Reserve Gov. Lisa Cook Monday is likely to kick off a high-stakes legal battle over the exact contours of the central bank’s independence, and that battle will likely hinge on whether past actions can disqualify a board member from their current […]
Cook firing takes the Fed into the unknown Read More »
Bloomberg News WASHINGTON — The Consumer Financial Protection Bureau is proposing a new rule that would limit its ability to oversee nonbanks, according to a notice published quietly in the Federal Register Tuesday. The CFPB said it plans to adopt a new definition of “risks to consumers with regard to the offering or provision of
CFPB to further curb its ability to supervise nonbanks Read More »
Bloomberg News President Donald Trump fired Federal Reserve Gov. Lisa Cook from her post in a Monday night social media post, the first time a Federal Reserve Governor has ever been removed by a president. In a move that is all but certain to ignite an unprecedented legal fight over the Fed’s independence, Trump posted
Trump fires Fed Gov. Lisa Cook ‘effective immediately’ Read More »
Vitalii Vodolazskyi – stock.adob Banks are coming out in support of the Trump administration’s move to repeal Community Reinvestment Act regulations finalized in 2023, despite known flaws with the decades-old status quo. They argue that a flawed but manageable rule is preferable to a flawed and unmanageable one. In a recent comment letter submitted to
Even opponents of Biden CRA want to preserve part of the rule Read More »
In June, the Consumer Financial Protection Bureau took notable steps that could significantly reshape the regulatory framework governing loan officer compensation. Among the most consequential developments was the submission of a proposed rulemaking to the Office of Information and Regulatory Affairs (OIRA), which appears to contemplate rescinding or significantly amending the current Loan Originator Compensation
Why tech – not pay – will decide loan officer loyalty Read More »
President Trump’s One Big Beautiful Bill is a milestone on the path of America’s Golden Age. It will help restore prosperity and stability to millions of households by providing crucial tax relief—including bringing back an impactful tax deduction for mortgage insurance premiums (MIPs). From 2007-2021, four million homeowners used the MIP deduction annually. In the years that
How Trump’s bill helps aspiring homeowners Read More »
Federal Reserve Gov. Lisa Cook.Bloomberg News President Donald Trump said Friday morning that he would terminate Federal Reserve Gov. Lisa Cook from her post “if she doesn’t resign” over allegations that she claimed a secondary home was her primary residence in a 2021 mortgage application. “Yeah, I’ll fire her if she doesn’t resign, yeah,” Trump
Trump says he will fire Fed Gov. Cook ‘if she doesn’t resign’ Read More »
Enjoy complimentary access to top ideas and insights — selected by our editors. With democratic socialist Zohran Mamdani likely to be the next Mayor of New York City, it seems safe to predict the end of the great progressive experiment in public housing that began during the New Deal. Tenants in city-owned apartments pay less
What Mamdani gets wrong about “affordable housing” Read More »
Federal Reserve Chair Jerome Powell at the Federal Reserve Bank of Kansas’ Economic Symposium in Jackson Hole, Wyo., on Thursday.Bloomberg News Federal Reserve Chair Jerome Powell signaled that the central bank may soon adjust its monetary policy, potentially paving the way for a rate cut in September. In a highly anticipated Friday morning speech at
Powell opens the door to interest rate cuts in September Read More »
Antonio White built his career in high-level Washington-related posts he held at the Federal Housing Finance Agency, Treasury, Bank of America and the Bill and Melinda Gates Foundation. But he got there through the work and connections he built growing up around Route 480 in Cleveland. That’s why White is starting a business called 480
Former FHFA official seeks to empower local leaders Read More »