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With the landmark Supreme Court decision overturning Chevron USA v. National Resources Defense Council, much of the rule making by the Federal Reserve Board, the SEC, HUD and other agencies is now open to attack, writes the Chairman of Whalen Global Advisors.

The guidance is largely unchanged from what the agencies proposed last year. It directs institutions to craft policies that consider a wide array of potential shortcomings.

A planned update to the core Reg X servicing rule is needed but the industry wants more time to eye it with several new proposals pending in an election year.

Year-over-year consumer dollars for home remodeling projects should drop 0.5% by 2Q25, after a 3% decline for the trailing 12 months, said the Joint Center for Housing Studies of Harvard University.

The Dallas-based company, whose earnings per share fell short of consensus by 6 cents, lowered its revenue forecast and raised its expense outlook. Its stock price fell more than 8% on Thursday.

Gow's addition is the latest major leadership development at the firm, which also named a new chairman and CEO this year but saw the recent departure of its chief technology officer.

Even though the 30-year fixed rate mortgage is at its lowest level since mid-March, consumers are being cautious in returning to the market, Freddie Mac said.

Reps. Patrick McHenry, R-N.C., and Maxine Waters, D-Calif., who run the House Financial Services Committee, today released their report on artificial intelligence in the financial industry.

The Cleveland-based regional bank continues to benefit from strength in investment banking, though concerns about stalled loan growth emerged as CEO Chris Gorman described demand as tepid.

Nearly all of the economists surveyed by Wolters Kluwer in July expect the FOMC to reduce short-term rates, but less of them expect it to happen at the September meeting than the number who believed so last month.