|
Senate Banking Committee questions FHFA, HUD leaders on regulatory oversightTuesday, April 23, 2024 Asserting the need for more oversight of federal housing regulators, the Senate Banking, Housing and Urban Affairs Committee convened a hearing to address pressing issues in the housing sector and assess the performance of its principal regulatory bodies. The hearing featured testimony from Federal Housing Finance Agency Director Sandra Thompson and Department of Housing and Urban Development Acting Secretary Adrianne Todman. |
Fed faces mounting pushback on interchange fee proposalTuesday, April 23, 2024 The Federal Reserve’s proposed changes to regulations on interchange fee caps have received pushback from the financial sector and sparked disagreement among Fed Board governors. The Fed extended the comment period by 90 days, until May 12, in response to industry concerns about needing more time to evaluate the rule’s implications. |
FHFA Housing Mission Report highlights developments at Fannie, Freddie, FHLBanksTuesday, April 23, 2024 The Federal Housing Finance Agency recently released its annual Housing Mission Report, with details about actions undertaken by the government-sponsored enterprises and the Federal Home Loan Banks last year to promote access to financing for affordable, sustainable, and equitable housing and targeted economic development. |
|
Ginnie Mae president announces resignationTuesday, April 23, 2024 Ginnie Mae President Alanna McCargo announced her intent to resign from public office after more than three years with the Biden-Harris administration and 25 years in housing finance. Her resignation will become effective May 3.
|
NCUA seeks comments on records retention regulationsTuesday, April 23, 2024 The National Credit Union Administration unanimously approved an advance notice of proposed rulemaking asking stakeholders to suggest improvements to the agency’s regulations implementing its records preservation program and accompanying guidelines.
House committee audits CFPB financial reporting, transparencyFriday, April 19, 2024 Persistent concerns over the Consumer Financial Protection Bureau’s (CFPB) transparency and accountability expressed by congressional Republicans recently spurred the House Financial Services Committee's Subcommittee on Financial Institutions and Monetary Policy to hold a hearing entitled, “Agency Audit: Reviewing CFPB Financial Reporting & Transparency.”
Court rules on trade industry’s challenge to FDIC guidance on NSF feesFriday, April 19, 2024 A judge in the U.S. District Court of the District of Minnesota ruled on the Federal Deposit Insurance Co.’s motion to dismiss a complaint brought by the Minnesota Bankers Association and Lake Central Bank, a Minnesota-chartered commercial bank, claiming one of the agency’s financial institutions letters amounted to a legislative rule promulgated improperly under the Administrative Procedures Act.
CFPB rule seeks to streamline nonbank supervisory designationsFriday, April 19, 2024 The Consumer Financial Protection Bureau is aiming to streamline its nonbank designation protocols with a new procedural rule that builds on its previous actions toward implementing a long “dormant” statutory authority. The procedural updates include the reallocation of certain duties to the director that previously fell to specific assistant and associate director roles.
Trades support resolution to nullify CFPB credit card ruleFriday, April 19, 2024 The Consumer Financial Protection Bureau’s final rule restricting credit card late fees faces a resolution of disapproval which has substantial industry support. The House Financial Services Committee voted 28-22 along party lines to advance the measure to the full House for consideration.
Banking advocate calls for crypto policies to address ‘pig butchering’ scamsFriday, April 19, 2024 Financial industry advocates are calling for federal policies to address the “skyrocketing” numbers of “pig butchering” scams. The Treasury Department’s Financial Crimes Enforcement Network and the Department of Justice have issued warnings to financial institutions and the broader public about the dangers of these types of crimes, which are often perpetrated through online channels using virtual currencies.
Former CFPB attorney reacts to possible ban on lender title insurance feesTuesday, April 16, 2024 The Consumer Financial Protection Bureau (CFPB) has not confirmed nor denied reports that it is considering prohibiting mortgage providers from charging homebuyers for lenders’ title insurance policies. Former CFPB attorney Richard Horn, co-managing partner at Garris Horn PLLC, offered his take and urged lenders to pay close attention to the agency’s request for information on closing costs.
CFPB supports Illinois state CRA proposalTuesday, April 16, 2024 The Consumer Financial Protection Bureau issued a statement expressing support for state-level Community Reinvestment Act rules proposed by the Illinois Department of Financial and Professional Regulation. The bureau commended the state’s efforts to tailor reinvestment obligations to its needs and urged it to adopt the proposal.
|
Monthly Newsletter |
Cover Story:
|
|