The Senate Banking Committee today approved the nomination of Adam Szubin as Under Secretary for Terrorism and Financial Crimes. Szubin has been serving in the role on an acting basis since he was first nominated by President Obama in April 2015. The full Senate must still confirm his nomination.
Proposed deal also would reverse the Trump administration's decision to lay off more than 4,000 federal employees, including at the CDFI Fund.
The Federal Housing Finance Agency is currently reviewing a possible deal with FICO to implement the FICO 10T credit scoring model for mortgages, according to a post on X by FHFA Director Bill Pulte.
The Senate cleared a key procedural hurdle needed to end the government shutdown after several Democrats reached a funding deal with Republicans.
A proposal to create a nationwide cap on credit card interest rates would hurt millions of Americans by cutting off access to credit, President Trump’s former campaign adviser Steve Moore said in a new report.
Passage of a new regulatory framework for stablecoins likely won’t lead to a flood of bank customers pulling their money out of deposit accounts and into the digital currency, Federal Reserve Governor Stephen Miran said.
Policy uncertainty remains a top risk to U.S. financial stability, with public sentiment about artificial intelligence emerging as another risk, according to the Federal Reserve’s most recent Financial Stability Report.
