Federal agencies reverse Biden-era credit guidance
Seven federal agencies rescinded a 2022 guidance that encouraged creditors to offer special purpose credit programs to underserved communities.
Politics and policy
CDFIs file lawsuit against Treasury to release funding
A group of community development financial institutions are asking a federal court in California to compel Treasury to disburse funds from the CDFI Fund before they expire in September.
To fire Cook from the Fed, Trump looks to channel Taft
The president has initiated a for-cause process to remove the Federal Reserve Board governor from office, something only one president has successfully done before. But that century-old precedent may not offer Trump much useful guidance in his quest.
CFPB will no longer publish consumer complaint narratives
The Consumer Financial Protection Bureau said it will stop publishing consumer complaint narratives, citing concern that the information is one-sided.
Inflation expectations fall in key Fed survey
Near-term expectations for price growth fell in the latest consumer sentiment survey from the Federal Reserve Bank of New York, but remains above the central bank's target across all time horizons.
CFPB gets another acting director as OMB’s Vought exits
Mark Paoletta, the Consumer Financial Protection Bureau's chief legal officer, has taken over as the agency's acting director. Russell Vought's term ended Aug. 1.
Banks fear SEC rule may limit access to capital markets
The American Bankers Association, Bank Policy Institute and Securities Industry and Financial Markets Association submitted comment letters to the Securities and Exchange Commission arguing that a proposed change to Form S-3 eligibility would make it more difficult for some banks to access the capital markets.
Warsh welcomes yield spikes as ‘change for the better’
Federal Reserve Chair Kevin Warsh acknowledged that his limited guidance might have been a factor in rising market rates, but said whatever increased volatility can be attributed to the changes is more than offset by the benefit of a more nimble central bank.
New expense projections could revive interest in GSE reform
The Congressional Budget Office's latest read on loan and guarantee costs points to the risks and value of government-sponsored enterprises in conservatorship.
Warsh and Peace: Iran tensions, bond market complicate Fed outlook
Heading into this week's Federal Open Market Committee meeting, the Fed's core indicators are painting a different picture of the economy than real-time measures, injecting more uncertainty into Wednesday's FOMC meeting than usual.
Disclosures show CFPB pick’s ties to several regulated firms
President Trump's nominee to lead the Consumer Financial Protection Bureau disclosed that he's been paid by numerous financial firms regulated by the agency he is expected to lead.
CFPB pick Johnson eludes Democrats in confirmation hearing
Brian Johnson, President Trump's nominee to lead the Consumer Financial Protection Bureau, navigated a somewhat contentious Senate Banking Committee hearing dominated by Democratic opposition but without giving away specific plans he has for the agency.
SEC reporting overhaul draws mixed reviews
A Securities and Exchange Commission proposal to change reporting requirements for public companies has drawn mixed reactions, with some groups warning that reduced transparency could harm markets.
Republicans ask CFPB’s Vought how to curb agency’s power
At a House hearing last week, GOP lawmakers asked Russell Vought, the acting director of the Consumer Financial Protection Bureau, for advice on how to craft legislation to permanently change the CFPB's authority. The hearing highlighted a consensus among Republicans that administrative policy rollbacks are not enough.
What comes next for the Fed’s regulatory independence?
The Supreme Court may have allowed the central bank to chart its own course on bank oversight for now, but discrepancies between two recent rulings set the stage for challenges.
Fed’s Waller ‘concerned’ about rising inflation
The Federal Reserve governor said the central bank should consider near-term rate hikes if core-measures of inflation continue to climb.
How states are responding to data center risk on housing
Bipartisan pushback is targeting data centers with calls to eliminate tax breaks and ensure their energy consumption costs do not get passed on to residents.
Trump says he won’t sign housing bill
The bill, which passed with wide bipartisan support, will become law at midnight if President Donald Trump doesn't veto it.
Logan: Fed’s open market activities should be centrally cleared
Federal Reserve Bank of Dallas President Lorie Logan said at an event Thursday that conducting monetary policy actions through a third party would improve efficiency and make markets stronger.
US added 57,000 jobs in June; Fed outlook muddied
The Bureau of Labor Statistics report showed the labor force continued to expand but at a weaker rate than in recent months. The development weakens the case for a near-term rate hike.
Load More
Couldn’t load more articles. Try again.