FHFA proposes to change affordable housing goals for Fannie Mae, Freddie Mac
The Federal Housing Finance Agency announced changes to the methodology Fannie Mae and Freddie Mac will use to measure their multifamily housing goals.
Browsing: Policy
Fed issues guidance for banks seeking to leap into crypto
In a supervisory letter issued yesterday, the Federal Reserve said that Fed-supervised banks seeking to engage in activities related to cryptocurrency and other digital assets must first assess whether such activities are legally permissible and determine whether any regulatory filings are required.
Fed issues final guidelines for payments system access
The Federal Reserve today announced final guidelines that it will use when evaluating requests for master accounts with the Fed or access to the agency’s financial services.
House Democrats pass reconciliation package
Following passage by the Senate earlier this month, the House today passed the Inflation Reduction Act, a bill to address selected portions of the Biden administration’s agenda for climate change, healthcare and tax policy.
CFPB guidance warns nonbank financial firms on data security
The Consumer Financial Protection Bureau published a circular today on how and when nonbank financial firms—such as fintech companies and credit reporting agencies—may be violating the Consumer Financial Protection Act with respect to data security.
CFPB: Digital marketers not exempt from Consumer Financial Protection Act
Digital marketers that provide targeted advertising for financial firms are subject to the Consumer Financial Services Protection Act and its prohibition on unfair, deceptive or abusive practices. Therefore, these marketers risk potential legal action if they run afoul of the act, according to an interpretive rule issued today by the Consumer Financial Protection Bureau.
Getting the Federal Reserve right, Part One
By John Steele Gordon After J. P. Morgan had stopped the financial panic of 1907…
ABA urges regulatory clarity, parity for developing digital assets
Oversight and supervision should be applied to banks and nonbanks engaged in digital asset activities alike to ensure all customers are protected equally.
Senate Democrats pass reconciliation package
After months of negotiating, the Senate yesterday passed legislation to address selected portions of the Biden administration’s agenda for climate change, healthcare and tax policy.
Bowman raises concerns about proposed CRA changes
A proposed overhaul of Community Reinvestment Act regulations does not adequately account for the costs and benefits of certain provisions in the draft rule, Federal Reserve Governor Michelle Bowman opined during a speech to the Kansas Bankers Association on Saturday.