What’s at stake: The Supreme Court struck down the White House’s sweeping tariff regime that went into effect last April in a 6-3 ruling. Expert quote: “The Government cannot identify any statute in which the power to regulate includes the power to tax.” — Supreme Court Chief Justice John Roberts, writing for the majority. Forward […]
Supreme Court strikes down Trump’s ‘Liberation Day’ tariffs Read More »
Key insight: A report from the White House Council of Economic Advisers claimed that the Consumer Financial Protection Bureau’s rules raised consumer interest rates and reduced the availability of credit since its inception. Supporting data: The report says the agency’s actions raised consumers’ borrowing costs by between $237 to $369 billion over the 13 years
White House report says CFPB raised borrowing costs Read More »
The Housing for the 21st Century Act — a sweeping housing reform package moving through Congress — is the boldest step yet in a broad federal push to increase housing supply and improve affordability. The legislation directs the U.S. Department of Housing and Urban Development (HUD) to publish “best practices” for states and local governments
What the Housing for the 21st Century Act means for real estate agents, lenders Read More »
The federal government should step in to prevent an emerging patchwork of state regulations from stifling the benefits of applying the tools of generative artificial intelligence to the mortgage market, writes Leah Price, of the Tinman AI Platform.Adobe Stock The federal government in December took the first steps toward steamrolling any potential bottlenecks that states
AI will ease the home-price crisis, if state lawmakers let it Read More »
Key insight: The CFPB’s leadership cited ongoing litigation as the reason for not cooperating with the Government Accountability Office. Supporting data: The GAO reiterated what was found in court documents, finding that the CFPB had planned to fire 88% of the staff. Forward look: A federal appeals court will hear oral arguments in late February
CFPB blocks GAO investigators in layoff report Read More »
Key insight: Treasury Secretary Scott Bessent said that the smallest banks should be deregulated, but didn’t endorse any specific policies to do so. Forward look: Chairman French Hill’s, R-Ark., community bank policy package has been overtaken by crypto bills and other priorities on the House floor and the Senate. Expert quote: “Stop being his flunky.”
Bessent offers deregulatory vision, but few specifics Read More »
Key Insight: After calling for a 10% rate cap on credit cards last month, President Donald Trump has grown quiet on the issue. But experts say regulators don’t have a very detailed understanding of how the market works or how pricing decisions are made. What’s at Stake: Billions of dollars worth of travel rewards would
Rate cap debate sidesteps big unknowns in credit card pricing Read More »
The House of Representatives approved legislation last week to bolster customer service efforts at the Social Security Administration (SSA), advancing a broader funding package aimed at avoiding a government shutdown at the end of this month. Lawmakers paired the funding increase with oversight requirements, instructing the SSA to avoid closing field offices or cut direct
House approves funding boost for Social Security Administration Read More »
Key Insight: Former Fed Gov. Kevin Warsh’s selection as the next Federal Reserve chair would put a familiar face atop the central bank, but the hawkish monetary policy stances he has advocated for in the past — contrasted with the accommodative policy the president prefers and that he now supports — muddy the outlook for
What bankers need to know about Fed chair-designate Warsh Read More »
Key Insight: President Trump’s selection of former Fed Gov. Kevin Warsh to a vacating seat on the central bank board will likely garner broad support from Senate Republicans, but promised opposition from Sen. Thom Tillis, R-N.C., could slow the confirmation process. Expert Quote: “I have known Kevin for a long period of time, and
Trump taps ex-investment banker Warsh to be next Fed chair Read More »