FOMC cuts rates by 25 basis points

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.

The CFPB finalized a rule that applies the Truth in Lending Act’s ability-to-repay requirements and civil liability provisions to residential property assessed clean energy loans, or PACE loans.

Fannie Mae and Freddie Mac have sold 171,333 nonperforming loans, with a total unpaid balance of $31.4 billion, from program inception in 2014 through June 30, 2024, according to FHFA.