Politics

Former President Donald Trump has selected Sen. JD Vance, R-Ohio, a vocal member of the Senate Banking Committee, as his vice presidential candidate in the 2024 presidential election, marking a turn against corporate power in Republican politics.

The Federal Reserve chairman has two years left in his term, which he will serve regardless of who occupies the White House. Powell's term on the Fed Board of Governors expires in 2028.

The new regulation goes into effect in early 2025 for properties financed by Fannie Mae or Freddie Mac.

A federal appeals court ruled that the Equal Credit Opportunity Act prohibits not just outright discrimination but also the discouragement of prospective applicants for credit.

The descriptions for remedies and indemnification have the most significant changes and more details were added throughout.

During his second day of congressional testimony this week, the Federal Reserve chair said the central bank does not have supremacy over other agencies on their joint rulemaking.

The Consumer Financial Protection Bureau has proposed requiring that mortgage servicers exhaust all efforts at assisting struggling borrowers before moving ahead with a foreclosure.

A growing number of states are tackling affordability struggles for middle-income renters, who have experienced the fastest increases in cost burdens over the past 20 years.

The Federal Reserve chair said there is a consensus within the central bank's board of governors for reproposing its capital rules, but notes that other agencies have not yet signed off on this approach.

The central bank also noted that the banking system is sound but faces several challenges. The report precedes Federal Reserve Chair Jerome Powell's upcoming appearances on Capitol Hill.

A package of 19 Federal Housing Administration servicing documents and forms has been translated into five languages for those with limited English proficiency.

Between two state measures and one regional, California starts with $40 billion of GO bonds on the November ballot, before any other local measures are tallied.

The Federal Reserve's struggle in bringing inflation down from its current level to its 2% target may come down to how the government measures shelter costs in the U.S., leading some experts to question whether the problem is in the economy or in how it is measured.

The Council of Federal Home Loan Banks executive shares his thoughts on a particularly active period for advances, and system reviews with a lot riding on them.

Federal Reserve Chair Jerome Powell brushed away concerns that a second Trump presidency could imperil the central bank's independence.

The Consumer Financial Protection Bureau found forbearance hurdles for borrowers included endgame questions, and also noted a high share of multilingual users.

Banking experts are divided on how regulators will reshape the capital overhaul and if reported revisions being floated by regulators will meet the banking industry's demands.

Interested participants will have until July 26 to submit responses through the enterprise's contractor platform.

The plan from the Heritage Foundation, a group the first Trump administration was largely in line with, would shutter CFPB, break up HUD and raise FHA premiums.

Michael Drayne, an industry consultant who previously served as a senior vice president of strategic planning and policy at Ginnie Mae, will join HPC in July.