Fannie, Freddie Transfer $102B in Credit Risk

The Federal Communications Commission released a draft order that would rewrite the agency’s “revoke all” rule – an action that ABA has long advocated. The FCC will vote on the draft order at its Sept. 30 open meeting.

Fannie Mae and Freddie Mac will now allow all lenders the option to use VantageScore 4.0 to assess the creditworthiness of single-family mortgages.

The FDIC plans to issue a final rulemaking before the end of the year to establish an application process and prudential requirements for stablecoin issuers under its jurisdiction, although likely not until after the OCC issues its own...

The number of banks and credit unions reporting that they provided services to cannabis-related businesses has remained relatively unchanged since 2019, with several representatives from financial institutions citing regulatory risk as the reason they didn't provide services to...

As the Public Company Accounting Oversight Board considers modernizing its standard-setting and enforcement operations, the board should ensure its objectives are proportionate to the risks they address and guarantee that bank audits are not selected for inspection more...

Financial institutions may use a mobile driver’s license or other government-issued virtual ID as a form of documentary verification for purposes of customer identification program compliance, so long as they maintain the appropriate technology or systems to extract...