Mortgage rates rise

A major bank policy bill passed by the House includes language to help smaller community development financial institutions and require annual reports to Congress on the state of the CDFI Fund.

Republicans on the House Financial Services Committee published a report calling for a coordinated national strategy to combat financial fraud and scams, saying that scams begin long before a customer contacts their bank and require stronger collaboration across...

The FCC voted 3-0 to issue a proposal to strengthen the Robocall Mitigation Database. ABA expressed support for the proposal in a letter sent in advance of the vote.

The Financial Stability Board’s draft list of 12 recommendations to guide the adoption of artificial intelligence by financial institutions is useful, but the document could use some further tweaks to make the recommendations even more effective, ABA said.

The House passed the Main Street Capital Access Act by a 270-155 vote. The bill seeks to boost community banking through tailored regulation and by encouraging de novo bank formation.

ABA isn’t opposed to market structure legislation for digital assets but is seeking “tiny, surgical” changes to ensure the Genius Act’s prohibition on interest and yield on payment stablecoin is upheld, ABA President and CEO Rob Nichols told...