Politics

Deputy Treasury Secretary Michael Faulkender says Basel capital rules need to fit the U.S. economy and avoid discouraging banks from lending.

Legislation passed in Connecticut protects homeowners from foreclosures tied to old liens that received renewed collections interest as housing values surged.

Financial markets were shaken but not stirred this past spring, according to the Federal Reserve, as swinging stock prices and bond yields did little to bring down elevated asset prices or leverage. 

Senate Parliamentarian Elizabeth MacDonough has ruled that Republicans cannot move ahead with slashing the Consumer Financial Protection Bureau's funding and Federal Reserve staff pay in the tax bill.

In an interview on CNBC, Fed Governor Christopher Waller reiterated his view on the inflation hit from new tariffs likely being short-lived.

"I would be quite surprised if he did not make a choice that fair-minded observers on both sides recognized as a reasonable person," Summers said on Bloomberg Television.

Federal Reserve Chair Jerome Powell said the changes could touch the central bank's quarterly economic forecasts. He also discussed downsizing at the Fed and his tenure on the board of governors.

The Senate version includes restoration of the mortgage interest deduction, but a tax code revision likely would stifle foreign investment in real estate.

The department's head pointed out that manufactured housing is the most affordable non-subsidized option for building homes.

Bill Pulte's social media posts saying inflation has fallen far enough added to intensified political pressure on the independent Federal Reserve chairman.

Seven officials now foresee no rate cuts this year, compared with four in March. Two others pointed to one cut this year.

Housing advocates are cheering the Senate's embrace of expanding Low Income Housing Tax Credits which ensures a volume increase and reduces a key bond threshold test.

The Trump administration is seeking to fire roughly 90% of the Consumer Financial Protection Bureau's staff and is fighting for that right in court. But if the administration prevails, can other consumer protection authorities from other federal regulators pick up the slack?

The closed meeting between the Federal Housing Finance Agency, the Treasury, and the Securities and Exchange Commission is the first publicized in some time.

None of the economists surveyed by Wolters Kluwer predict the Fed will cut rates at this week's meeting, few expect one in July and 41% said after September.

A survey from Redfin reveals that Americans are unsure about how President Trump's policies will affect home prices.

The National Fair Housing Alliance accuses the department of using inaccurate statistics to justify deep cuts to fair housing programs

The House and Senate will need to resolve a slight difference between their versions of the bill before sending it to President Donald Trump for his signature.

A Trump-appointed judge refused to dismiss a settlement between the Consumer Financial Protection Bureau and a Chicago mortgage lender over lending practices that an appeals court already said violated the Equal Credit Opportunity Act.

The past two Federal Reserve vice chairs for supervision failed to implement the final installment of the Basel III capital framework. Newly installed Vice Chair for Supervision Michelle Bowman is taking a new approach to the thorny question of bank capital.