While noting that the Federal Housing Finance Agency’s re-proposed regulatory capital framework for Fannie Mae and Freddie Mac addresses concerns raised by ABA about the original 2018 proposal, the association today said the May re-proposal “raises concerns of its own, particularly with regard to the implications for the primary market and our members’ continued ability to sell loans to the GSEs in the revised GSE marketplace implied by the re-proposal.”
ABA joined a coalition of financial trade groups last week welcoming action by financial regulators to provide regulatory relief to swaps market participants during the pandemic.
The Community Reinvestment Act should be expanded to cover credit unions, other nonbank lenders and insurers, according to the National Community Reinvestment Coalition.
The Federal Open Market Committee today revised its monetary policy statement and long-run goals to reflect the challenges of operating in a persistent low-rate, low-inflation environment.
The federal banking agencies today finalized several rules originally issued as interim final rules during the spring weeks of the emergency coronavirus response.
Financial innovation can deliver “tremendous benefits” to consumers and help minority depository institutions enhance participation in the mainstream financial system, FDIC Chairman Jelena McWilliams said today.
The Securities and Exchange Commission today approved amendments to the definitions of “accredited investor” under Regulation D and “qualified institutional buyer” definition under Rule 144A.
The Consumer Financial Protection Bureau is beginning its biennial review of the consumer credit card market, as mandated by the Credit CARD Act. The next report is due in 2021.
The Federal Housing Finance Agency today delayed a 50 basis point fee it had planned to start imposing on Fannie Mae and Freddie Mac refinanced mortgages.
The Small Business Administration today issued an interim final rule addressing certain technical issues of Paycheck Protection Program loan forgiveness related to business owners and certain non-payroll costs.