In a comment letter to the FDIC today, the American Bankers Association offered its full support for a recent proposal that would rescind Part 350 from the Code of Federal Regulations, removing an annual disclosure requirement that was duplicated by data publicly available on the FDIC’s website. The 1987 requirement called for FDIC-insured state non-member banks and foreign branches, but not state thrifts, to prepare annual disclosures of Call Report and other data.
Mortgage rates rise
The rate for a 30-year fixed-rate mortgage was 6.3% this week. The rate for a 15-year fixed-rate mortgage was 5.64%.
