Federal Reserve Chair Jerome Powell.Bloomberg News Some Federal Reserve officials are starting to beat the drum for an interest rate cut, but not Chair Jerome Powell. During an onstage panel event in Portugal, Powell said he is not putting a rate cut on the table for this month’s Federal Open Market Committee. But he also […]
Powell unbowed by pressure to cut rates in July Read More »
Mortgage lenders welcomed the rescissions the Department of Housing and Urban Development made to 12 Federal Housing Administration policies, noting they would make the program more attractive for participants. They could even be a starting point for bringing banks back as originators in this government-insured program. These revisions might affect other segments of the housing
HUD rescinds 12 FHA policies: What home lenders need to know Read More »
Bill Pulte, the head of an oversight agency for mortgage giants Fannie Mae and Freddie Mac, is planning “a full scale review” of the credit bureaus. The director of the entity formerly known as the Federal Housing Finance Agency posted the statement on X Friday afternoon, and subsequently indicated on early Monday he also wants
Pulte plans ‘full scale review” of credit bureaus Read More »
Bloomberg News The Financial Technology Association filed a motion for summary judgment in federal court late Sunday, defending a final rule on consumer financial data rights that the Consumer Financial Protection Bureau under the Trump administration refused to uphold. The FTA said in a court filing that consumers cannot share their data without easy access
Fintech group urges court to uphold CFPB’s open banking rule Read More »
“We are looking at the opportunity to make the 2017 tax relief permanent,” said Senate Leader John Thune during a floor speech on Saturday. “We’re adding to the 2017 tax relief with new pro-growth provisions, like a provision to boost domestic manufacturing by implementing full expensing for new factories and factory improvements. Thanks to the pro-growth provisions
Budget resolution clears a hurdle, more to come Read More »
As anticipation builds around potential changes to the LO comp rule, some industry stakeholders have started to chime in with their visions of what form the regulation should take. The Community Home Lenders of America, specifically, is the first to publish a blueprint of what changes should be implemented to the Loan Originator Compensation Requirements.
CHLA floats rewrite of LO comp rule Read More »
Bloomberg News Most of the country’s largest banks are poised to see flat or lower capital requirements next year after performing well in this year’s Federal Reserve stress test, but ongoing efforts to reform its annual exam practices could complicate how much lower those requirements will ultimately be. Overall, banks registered their best performance since
Banks cruise through Fed stress tests, earning capital break Read More »
The clock is ticking for the 90-day pause on President Trump’s tariffs. As the July 8 deadline draws near, banks face the possibility of a new round of disruptions to their business — and yet some CEOs aren’t worried. In interviews with American Banker, two bank leaders expressed confidence that Trump will avoid ratcheting his
Bank CEOs keep calm as end of tariff pause approaches Read More »
The conservator of two government-sponsored enterprises that buy and securitize many mortgages originated in the United States said he’s arranged some unusual talks between them to get their input on deregulation. “In following President Trump’s deregulation mandate, I ordered the executives of Fannie and Freddie to meet and provide me [with] regulatory changes,” Bill Pulte,
Pulte brings Fannie, Freddie together to talk deregulation Read More »
Senate Banking Committee Chair Tim Scott, R-S.C., left, and committee ranking member Elizabeth Warren, D-Mass.Bloomberg News WASHINGTON — Senate Banking Republicans can go ahead with cuts to the Consumer Financial Protection Bureau’s funding after the Senate parliamentarian approved nearly halving the amount that the bureau can draw from the Fed’s total operating budget. Last week,
What the big, beautiful bill now has in store for the CFPB Read More »