Final: Consumer sentiment rose in July

For the first time in nearly 50 years, the Federal Reserve is proposing to comprehensively update the regulation governing extensions of credit to bank “insiders,” such as board directors, executives and major shareholders.

The FDIC and OCC proposed a series of amendments to Community Reinvestment Act regulations to “refocus” on the law’s objective of getting banks to meet the credit needs of their communities, including narrowing the list of qualifying activities...

The Federal Reserve proposed a new rule to “modernize” the mutual bank regulatory framework, including changes to expand access to capital and remove restrictions on converting to a stock company. ABA has long advocated for updating the framework.

The rapid growth in hedge fund Treasury holdings reflects a structural shift in the U.S. Treasury market, with leveraged investors playing a larger role in financing government debt while some foreign governments have reduced holdings.

FinCEN Director Andrea Gacki will step down from her position to become global head of sanctions at Citi, according to an announcement by the bank.

The rate for a 30-year fixed-rate mortgage was 6.66% this week. The rate for a 15-year fixed-rate mortgage was 6.04%.