The Federal Reserve, FDIC and Office of the Comptroller of the Currency released details on their upcoming stress test scenarios for large financial institutions. In the case of the Fed, 32 banks will be tested against a severe global recession with heightened stress in both commercial and residential real estate markets, as well as in corporate debt markets. The FDIC and OCC stress tests include baseline and severely adverse scenarios for covered institutions
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...
An FDIC proposal to expand the definition of brokered deposits not only fails to justify the reason for the change, it does not meet the legal standards required of new rulemakings and raises numerous policy concerns, ABA and...
