Politics

Current affordability challenges appear to have spurred the Department of Housing and Urban Development affiliate to rectify a concern dating back to 1990.

Federal Reserve Chair Jerome Powell said inflation relief from the housing sector is "in the pipeline" but some say strong underlying demand and an inadequate housing supply could disrupt future rate pauses or cuts.

A district court judge ruled that Congress did not give the Consumer Financial Protection Bureau broad authority to look for discrimination, putting a major dent into the bureau's efforts to apply anti-discrimination principles to non-lending products such as advertising.

The settlement resolves allegations dating to 2014 and covers 85 minority employees who alleged they were paid lower wages than their white counterparts and faced retaliation.

Philip Jefferson was the Biden administration's pick for the Fed's number two position following the departure of Lael Brainard earlier this year. Two more Fed nominees are expected to get confirmation votes this week.

Cannabis banking, the Durbin-Marshall credit card bill and executive compensation legislation could be on the agenda this fall, but banking regulators' Basel III endgame proposal has made bipartisan compromise more complicated.

Following the anniversary of the formation of Community Mortgage Lenders of America, its president recounts the successes of the independent mortgage bank advocacy group.

Two related cases the Supreme Court is considering hing on whether state laws preempt the National Banking Act on the payment of interest on mortgage escrow accounts.

A former insider wants the Federal Home Loan Bank System's regulator to require its 11 regional banks to balance members' liquidity needs with the system's public mission to fund affordable housing and community development programs.

In his highly anticipated speech in Jackson Hole, the Federal Reserve chair acknowledged the progress made in cooling down inflation, but said the central bank would not hesitate to raise rates further if needed.

Banking regulators have been debating how to reform the implementing regulations for the Community Reinvestment Act across two presidential administrations. But despite banks' urging to slow down, regulators are poised to finish the job in early fall.

The American Bankers Association and Bank Policy Institute Tuesday urged bank regulators to delay the finalization of its Community Reinvestment Act rule, saying regulators have not calibrated the rule to account for upcoming capital changes or considered whether courts will find the Consumer Financial Protection Bureau's funding structure constitutional.

A 2018 report laid the groundwork for the Biden administration's push to root out discrimination in home valuation. A counter study says no such practices exist.

The Consumer Financial Protection Bureau plans to propose rules to require that data brokers comply with the Fair Credit Reporting Act to limit data from being sold for any reason other than what Congress has specified as having a "permissible purpose," such as credit underwriting.

In its annual report, the Federal Deposit Insurance Corp. explored the various credit, market and operational risks facing the banking sector. It also explored crypto and climate issues.

Banking and housing experts say that if additional capital burdens spur large banks to pull back on mortgage origination, servicing and funding, the ripple effects could be felt more intensely in the housing market than on banks' bottom lines.

Profit in the first half of the year at the 11 Home Loan banks already exceeds 2022's total.

The board of the Home Loan Bank of San Francisco chose not to renew Teresa Bryce Bazemore's contract that ends in 2024, and has initiated a search for a new CEO.

While financial markets wobbled after Fitch Ratings reduced the U.S. government's credit rating, analysts said the action should have little long-term impact, similar to a downgrade by Standard & Poor's in 2011. JPMorgan Chase CEO Jamie Dimon argued that Fitch's action "doesn't really matter that much."

Economic disruption of the past several years has led to the inventory and affordability challenges the housing market faces today. But while efforts have been introduced to address them, many are looking at what the government might do to help alleviate the current situation.