OCC Releases New Policy on Civil Money Penalties

Commercial real estate and cybersecurity risks remain potential vulnerabilities for the U.S. financial system, the Office of Financial Research said in its annual report to Congress. The report also identified “data gaps” that could complicate projections.

The CFPB finalized a rule that will allow it to regulate large nonbank firms that provide digital payments services, but excluded services for digital assets.

The Securities and Exchange Commission announced that Chairman Gary Gensler will step down from the commission on Jan. 20, 2025.

FHA has extended by six months the compliance deadline for a new rule removing the face-to-face meeting requirement for certain mortgagees amid concerns about how the policy would be implemented.

The rate for a 30-year fixed-rate mortgage was 6.84% this week. The rate for a 15-year fixed-rate mortgage was 6.02%.

Existing home sales increased 3.5% in October to a seasonally adjusted annual rate of 3.96 million, the National Association of Realtors reported. Sales rose 2.9% from a year ago. The median existing-home sales price rose 4% from a...