Mortgage rates tick down

Republican subcommittee members called for a “right-sized” framework that doesn’t overly burden smaller institutions and one Democratic leader promised a “fight” against reducing current requirements.

The rate for a 30-year fixed-rate mortgage was 6.22% this week. The rate for a 15-year fixed-rate mortgage was 5.54%.

The Hill newspaper announced that ABA President and CEO Rob Nichols, Chief Policy Officer Naomi Camper and EVP of Congressional Relations and Legislative Affairs Kirsten Sutton were named to its list of the 2025 top lobbyists

The OCC said it is continuing to review thousands of documents and consumer complaints but claimed to find instances where banks may have restricted access.

ABA submitted a list of principles to guide any legislation relating to artificial intelligence in financial services, stressing that Congress must pass comprehensive laws establishing an AI risk management framework with strong preemption of state requirements.

FinCEN assessed a $3.5 million civil penalty against the former cryptocurrency services provider Paxful for Bank Secrecy Act violations and issued a reminder for financial institutions of their anti-money laundering obligations when dealing with virtual currencies.