U.S. housing secretary to resign

Federal Reserve Governor Christopher Waller proposed that the central bank consolidate core functions such as human resources and IT across the 12 Reserve Banks instead of each bank being responsible for its own operations.

Kevin Warsh appeared before senators today at an often confrontational hearing on his nomination to be Federal Reserve chairman, where he pledged to be independent while accusing the Fed of eroding public trust by straying from its mission.

The March increase in pending home sales is reflective of increased inventory and pent up demand despite higher mortgage rates.

Advance estimates of U.S. retail and food services sales for March were $752.1 billion, up 1.7% from the previous month, and up 4% from a year ago, according to the U.S. Census Bureau.

An independent supervisory appeals process at the OCC would serve as a crucial backstop to support and promote fair and consistent supervision, ABA said.

Nebraska lawmakers have passed legislation requiring social media companies to take steps to detect and remove fraudulent advertising on their platforms.