The public retirement fund, one of the biggest in the US, said four years ago it would review all of its fossil-fuel holdings as it sought to reduce investment risks linked to climate change.

A new "Social MBS" label will be applied to eligible single-family collateral from both government-sponsored enterprises based on a new mission index score.

A new label and disclosures for certain mortgage securities may create more of an impetus for lenders to extend credit to underserved populations.

The agency's president, Alanna McCargo, called the nonbank liquidity issue "the biggest of our time," while speaking at the Bipartisan Policy Center Tuesday.

The Federal Reserve Board governor said adopting policies on climate change are not necessary and risk hurting the central bank's credibility.

The Cleveland-based bank says it will submit to a racial equity audit conducted by an outside law firm, as Citigroup and Wells Fargo have previously done. The bank's decision follows a request that regulators investigate Key's mortgage lending practices for alleged redlining.

Scores will be assigned to all loan pools created since 2010, including future securitizations, and are expected to help investors determine the share of mortgages meeting specific characteristics.

Republican control of the U.S. House of Representatives will help advance financial services firms' priorities, with a wish list that includes curbing ambitious proposals by a top markets regulator and diminishing the clout of a popular U.S. consumer watchdog.

Lawmakers approved the first $500 million for the program as a trailer bill to the fiscal 2023 budget. Bonds may be used to fill the gap.

New York Fed researchers found that banks operating in areas hit by tornadoes, floods and other calamities weren’t financially hurt by those disasters. That surprising result comes with significant caveats, however.