By a bipartisan 286-140 vote, the House today passed H.R. 685, a bill introduced by Rep. Bill Huizenga (R-Mich.) that would provide needed clarifications on the Qualified Mortgage rule’s points and fees test as part of ABA’s Agenda for America’s Hometown Banks. The bill would help bankers better meet the credit needs of their communities, ABA said in a letter on Monday.
A new national survey conducted by Morning Consult on behalf of ABA shows that consumers value and understand existing overdraft services offered by financial institutions.
Sen. Ted Cruz (R-Texas) announced he has introduced legislation to block the Federal Reserve from issuing a central bank digital currency.
New orders for manufactured durable goods increased $2.7 billion or 0.9% in February to $289.3 billion, the U.S. Census Bureau said in its most recent advance report.
FHA announced that non-permanent residents are no longer allowed to access FHA-insured mortgages, part of a broader effort by the Trump administration to tighten immigration policies.
FS-ISAC released a report to help financial service providers predict the challenges and identify the uncertainties involved in implementing generative artificial intelligence solutions.
Under a new executive order from President Trump, effective Sept. 30, the U.S. Treasury will no longer issue paper checks for disbursements, including tax refunds, vendor payments, benefit payments and intergovernmental transfers.
