Politics

The Supreme Court issued an opinion Thursday morning that was unequivocal in its view that Congress is constitutionally empowered to fund agencies with open-ended and indirect funding mechanisms, overruling a 5th Circuit opinion from 2022 that found that executive branches must be subject to direct Congressional appropriations.

The new Financial Stability Oversight Council report also recommends an expanded Ginnie Mae PTAP facility and an industry-funded liquidity resource.

Federal Reserve Governor Lisa D. Cook highlighted concerns over private credit growth, commercial real estate distress and escalating cyber threats in remarks on financial stability at the Brookings Institution Wednesday.

McCargo will succeed Teresa Bryce Bazemore at what the former sees as a "transitional, pivotal moment" for the Federal Home Loan bank.

Federal Reserve Chair Jerome Powell said there have been "no decisions" on the controversial capital reform plan, but banks and others who have criticized the proposal are eager for an indication about what's next.

The process of making changes to foreclosure prevention programs has been complicated by differences in how the Department of Veterans Affairs operates compared to an agency like the Federal Housing Administration.

During this week's Federal Open Market Committee meeting, officials voted to lower the cap on the amount of Treasury securities that can roll off the central bank's books each month from $60 billion to $25 billion.

Top Federal Home Loan bank officials said they fear the Federal Housing Finance Agency will use supervision to further the goals of last year's report recommending reforms to the Home Loan Bank System.

Rep. French Hill, the No. 2 Republican on the House Financial Services Committee, promised bankers Tuesday that he will continue to push back against Biden administration regulators, especially on bank-fintech partnerships and digital assets.

The Federal Housing Administration removed housing finance firms from the list of permitted interested-party contributors in a new reverse-mortgage rule.

Banks and other financial market participants have been keyed into the central bank's communications around monetary policy expectations. But in an unpredictable economy, the guidance doesn't always hit the mark.

The Federal Housing Finance Agency rule originally proposed last year aims to make it tougher to roll back measures designed to encourage more equitable lending.

A pair of bills, one with bipartisan support, look to address the issues around heirs' property so these families can have clear title on their homes.

Recent economic data have shown inflation stubbornly above the Fed's 2% target, putting rate cuts in jeopardy. Lauren Saidel-Baker, an economist with ITR Economics, parses the FOMC meeting, Chair Powell's press conference and takes a look at future policy.

A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.

Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.

The Federal Housing Administration, the Department of Veterans Affairs and the Federal Housing Finance Agency have started gathering data and analyzing how climate risk will impact the housing ecosystem.

The Federal Reserve's Office of the Inspector General says the Fed has yet to fulfill 65 recommendations, and also identified 18 outstanding issues at the Consumer Financial Protection Bureau.

According to the Federal Reserve Board's latest financial stability report, persistent inflation and policy uncertainty are the primary worries for banks. Survey respondents expressed heightened anxiety over murky policy outlooks due to geopolitical turmoil and rapidly approaching domestic elections.

McCargo stabilized the agency at a crucial time as she helped navigate it through both a pandemic and subsequent dramatic interest-rate cycle change.