Mortgage rates rise

More work is needed to provide the regulatory certainty required to realize the promise of stablecoins and other digital assets, including ensuring that the same anti-money laundering regulations apply to equivalent financial activities, ABA said.

ABA urged the Federal Reserve and Treasury Department to alleviate the operational challenges caused by the end of penny production, such as by providing public education, giving guidance on rounding transactions and ensuring the existing penny supply continues...

Nacha voting members approved new rules aimed at increasing the efficiency of international Automated Clearing House transactions, or IATs, according to the organization.

Despite a decline in satisfaction across all lender types between 2023 and 2024, banks maintain the highest net satisfaction scores among small business applicants.

The rate for a 30-year fixed-rate mortgage was 6.27% this week. The rate for a 15-year fixed-rate mortgage was 5.52%.

A new law establishing a regulatory framework for stablecoins has “gaps” that could pose risks to financial stability and consumer protection if federal and state regulators don’t establish safeguards for individuals and businesses, Federal Reserve Governor Michael Barr...