Subramanian elected to lead BAFT board

The CFPB issued a legal warning about credit card rewards, published a new study on retail credit cards and unveiled a new credit card comparison-shopping tool.

The FOMC voted to lower the target range for the federal funds rate by 25 basis points to 4.25%-4.5%, with one member dissenting from the majority.

Housing starts decreased by 1.8% in November from the month prior to a seasonally adjusted annual rate of 1.29 million, the Commerce Department reported. The rate was 14.6% below the November 2023 level.

FinCEN issued an alert to raise awareness of fraud schemes involving misuse of the agency’s name, insignia and authorities for financial gain.

Semi-annual report show plans by federal agencies on regulations regarding medical debt, NSF fees and more. However, the rules listed are currently under development and may be influenced by the incoming administration.

The Federal Communications Commission has established a “Private Entity Robocall and Spoofing Portal,” where banks and other companies can submit information about a suspected illegal call, including illegally “spoofed” calls, to the FCC’s Enforcement Bureau.