Biden Administration

Though the pandemic recession has driven up the delinquency rate on Federal Housing Administration loans, the president's appointees are widely expected to reduce mortgage insurance premiums by at least 25 basis points to make home loans less expensive.

Come away better prepared for what’s ahead after hearing Satish Kini and David Sewell of Debevoise & Plimpton and Darin Jarrett, Deputy BSA/AML Officer at American Express, in conversation with Bonnie McGeer, Executive Editor of American Banker, as they explore: •How the new administration might change the BSA/AML Act •Are there easy wins in relieving the burden of suspicious activity reports without undermining effectiveness? •New ways that companies are innovating within AML compliance and risk •What banks are doing to drive next-gen efficiency and effectiveness of risk and compliance

Marcia Fudge told senators that her first priority as secretary would be to assist renters and homeowners struggling financially due to the COVID-19 pandemic.

The president’s executive action looks to assess the impact of the previous administration's alterations to the Affirmatively Furthering Fair Housing and Disparate Impact rules, while reinforcing Biden’s vow to eliminate discriminatory lending practices.

Janet Yellen was confirmed by the U.S. Senate as the country's 78th Treasury secretary and the first woman to hold the job, putting her in charge of overseeing an economy that continues to be hobbled by the coronavirus pandemic.

If new housing policy initiatives are not adopted by Congress, the Biden Administration may seek to push the GSEs into receivership, which would damage the conventional market, columnist and analyst Chris Whalen says.

President Biden and Democrats in Congress have backed plans to subject a broader array of companies to Community Reinvestment Act requirements. But there’s no guarantee such reforms will happen.

Appointee Jenn Jones spent the last four years as the chief of policy and membership at the National Community Reinvestment Coalition, an organization fighting housing and lending discrimination.

Dave Uejio, who served as chief of staff to ex-Director Richard Cordray, was named by the Biden administration to lead the Consumer Financial Protection Bureau until the Senate confirms Rohit Chopra for the permanent job.

The administration faces a slew of immediate financial policy tasks, such as passing a new round of small-business aid, charting a course for Fannie Mae and Freddie Mac and filling vacant agency leadership posts.