RTP network sees record transaction growth in 2024

The rate for a 30-year fixed-rate mortgage was 6.17% this week. The rate for a 15-year fixed-rate mortgage was 5.41%.

Banking agencies are required by Congress to review their regulations every 10 years but their past reviews have been “underwhelming,” resulting in no reduction in regulatory burden, Federal Reserve Vice Chair for Supervision Michelle Bowman said.

FDIC Acting Chairman Travis Hill appeared before the Senate Banking Committee for his nomination hearing, where he once again pledged to refocus agency supervision on material financial risks.

The CFPB rescinded a series of changes made to its rules that, among other things, gave its director authority to resolve adjudication hearings overseen by the agency.

The CFPB has nixed a registry to track information on consumer protection violations by nonbanks, citing concerns about compliance costs.

Several policymakers raised concerns with media outlets in recent days about a loophole in the Genius Act that allows stablecoin issuers to avoid its prohibition on paying interest.