Politics

The agency released two reports Tuesday outlining shortcomings of the background check industry and pledged to root out false information and faulty practices in the space.

Martin Gruenberg has been acting chairman of the Federal Deposit Insurance Corp. since February and is the longest-serving member of the FDIC board.

The Federal Reserve notched two badly needed wins last week, as inflation showed signs of easing and the financial system withstood the collapse of one of the world's biggest crypto firms. Here's what that means for the central bank moving forward.

Treasury Secretary Janet Yellen called October's positive inflation report in the U.S. "a good reading," but cautioned against relying too much on one data point.

A growing number of economists and lawmakers think the Fed has gone too far in its battle against inflation. Powell is worried it hasn't gone far enough.

Legal experts are gaming out the various options for the CFPB after a three-judge panel of the U.S. Court of Appeals for the 5th Circuit ruled on Oct. 19 that the bureau's funding is unconstitutional.

Major efforts are underway to eliminate discriminatory practices in property valuations.

In a letter to Federal Reserve Chair Jerome Powell, the chair of the Senate Banking Committee warned that the Fed was in danger of going too far in its efforts to tame inflation.

"The main threat we see is coming from the CFPB, where the single director can act as judge, jury, and executioner, all in one," said Bob Broeksmit, president of the Mortgage Bankers Association

The regulator believes this transparency into the Uniform Appraisal Dataset records will help combat valuation bias.

The Fed's interest rate hikes are meant to tame inflation, but the secondary impacts on housing could give the central bank a reason to pump the brakes.

The agency expects one in five borrowers to be eligible for the new pricing benefits.

The mortgage market is reeling from the central bank's strategy of raising rates and reducing its holdings of mortgage-backed securities. Lenders face the worst headwinds in more than a decade.

The delay acknowledges concerns some companies and trade groups have had about compliance with the requirement.

The Consumer Financial Protection Bureau's rules and enforcement actions to date could be open to legal challenges by banks and other companies after a three-judge panel deemed the agency's payday lending rule unconstitutional because of the way the agency is funded, legal experts say.

The Mortgage Bankers Association and Housing Policy Council are asking for the Federal Housing Finance Agency to make government-sponsored enterprise data available as part of the establishment of its new Office of Technology.

The U.S. Court of Appeals for the 5th Circuit overturned a lower court's ruling, declaring the agency's funding structure and its 2017 payday lending rule invalid.

A Wisconsin taxpayers group asked the U.S. Supreme Court to block President Biden's student-loan relief plan from taking effect, accusing him of usurping the power of Congress and costing taxpayers potentially more than $1 trillion.

The new product will be based on a recent revision to the Department of Veterans Affairs' handbook for lenders, according to the company.

The agency is currently using upper ceilings set in the Housing and Economic Recovery Act of 2008.