Housing regulator Bill Pulte has posted a video that sheds a little more light on the Great American Mortgage Corporation, an entity President Trump has hinted earlier could be headed toward a public offering this year. The video Pulte posted on X promotes President Trump’s housing role and alludes to his criticism of other policymakers’ […]
Trump, Pulte spotlight ‘Great American Mortgage’ plan Read More »
The Federal Reserve’s top banking regulator is promoting a pro-technology approach, urging a shift away from what she called “an overly cautious mindset” toward banks adopting innovative tools such as blockchain and artificial intelligence. In a speech Tuesday, Federal Reserve Vice Chair for Supervision Michelle Bowman said regulators must understand new products and services used
Fed’s Bowman: Banks, regulators must embrace emerging tech Read More »
Sen. Tim Scott, R-S.C.Bloomberg News WASHINGTON — Senate Banking Committee Chairman Tim Scott, R-S.C. publicly acknowledged the role that the crypto industry had in unseating former chairman Sherrod Brown, a longtime banking progressive, from the Senate. Scott’s comments, made at the Wyoming Blockchain Symposium just ahead of the Federal Reserve’s Jackson Hole Summit, were a
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Fannie Mae and Freddie Mac look like they would hold up better in a severe downturn today than their collective stress tests indicated in 2024. The tests modeled how they’d fare after absorbing losses like a total $36.1 billion provision in net chargeoffs plus foreclosed property expenses. That shows the credit losses they’d be likely
Fannie, Freddie’s stress test losses ease from 2024 Read More »
Al Drago/Bloomberg WASHINGTON — The Office of Management and Budget has apportioned a fraction of the money Congress allotted to the Community Development Financial Institution Fund, documents show. OMB has allotted only $35 million under the Trump administration to the CDFI program, according to new apportionment documents. All of those funds have gone to cover
OMB documents show CDFI Fund isn’t disbursing new funds Read More »
Andrew Harrer/Bloomberg Two consumer groups are urging Federal Housing Finance Agency Director William J. Pulte to abandon his directive that Fannie Mae and Freddie Mac explore counting cryptocurrency holdings as reserves in single-family mortgage underwriting. In a letter sent Thursday, the Consumer Federation of America and the National Consumer Law Center said the move, which
Consumer groups urge FHFA not to mix crypto with mortgages Read More »
Hedge fund billionaire Bill Ackman is fueling more speculation about President Trump’s suggested Fannie Mae-Freddie Mac merger this fall, but experts debate the near-term benefits. The Pershing Square Capital Management CEO linked the concept to President Trump’s Truth Social post depicting a public offering for a single entity, citing the potential for a government-sponsored enterprise
Experts weigh Fannie-Freddie merger prospects Read More »
While more economists surveyed in August by Wolters Kluwer expect the Federal Open Market Committee to cut short-term rates at its September meeting than the previous month, a significant share still thinks action won’t come until December or later. The percentage of the participants in the Blue Chip Economic Indicators panel believing the next Fed
Economists now leaning towards September Fed cut Read More »
President Donald Trump named EJ Antoni, chief economist of the conservative Heritage Foundation, to lead the Bureau of Labor Statistics after firing the former head of the agency earlier this month. Trump appointed Antoni, who has been vocal about his concerns with BLS jobs data and revisions, in a Truth Social post Monday. The position
Trump names Heritage’s EJ Antoni to lead Bureau of Labor Statistics Read More »
Al Drago/Bloomberg The Consumer Financial Protection Bureau is proposing reducing supervision of all but the largest nonbanks in four key markets: auto financing, consumer credit reporting, debt collection and international money transfers. The move aligns with the bureau’s new priorities of reducing regulations, slashing staff and cutting funding. Acting CFPB Director Russell Vought on Friday
CFPB proposes a rule change to cut nonbank supervision Read More »