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.
ABA will donate $10,000 to Texas Bankers Foundation to assist with immediate disaster response and recovery following the recent catastrophic flooding in Central Texas.
The rate for a 30-year fixed-rate mortgage was 6.72% this week. The rate for a 15-year fixed-rate mortgage was 5.86%.
Following the enactment of the One Big Beautiful Bill Act, hear from ABA experts on how key ABA-supported provisions on tax policy, rural real estate and health savings accounts in the budget reconciliation law will affect banks.
The Federal Reserve requested comment on a proposal to revise its supervisory rating framework for large bank holding companies to address the "well managed" status of the firms.
The Senate voted to confirm Jonathan Gould as comptroller of the currency. He succeeds Rodney Hood, who is acting comptroller.
FinCEN has extended by more than a month the effective dates for orders involving three Mexico-based financial institutions with alleged ties to fentanyl trafficking, according to an agency statement.
