Politics

Federal Reserve Chair Jerome Powell says crushing inflation is the most important thing the Fed can do to reduce costs in the housing market. Some economists and policy specialists say higher rates are not the only tool at its disposal.

Consumer Financial Protection Bureau Director Rohit Chopra touted the bureau's work on data privacy and open banking, and asked that lawmakers on both sides of the aisle pursue legislation to further consumer protections.

President Joe Biden also nominated fellow Commodity Futures Trade Commission board member Kristin Johnson to a top bank regulatory post at the Treasury Department.

The Federal Reserve held firm on its current interest rate levels after its latest meeting, but inflation numbers are leading to talk of potential action in third and fourth quarters.

The Federal Reserve chair said a rate cut would not solve the underlying issues driving up shelter costs, even as housing becomes a disproportionate driver of inflation.

Consumer Financial Protection Bureau Director Rohit Chopra pushed back against a new argument posed by Senate Republicans that the bureau may only be funded if the Federal Reserve earns a profit.

Fifteen million Americans who owe a combined $49 billion in medical debt would benefit from a proposal by the Consumer Financial Protection Bureau to scrub medical debts from credit reports and ban their use in underwriting decisions.

The department will continue to monitor developments from a recent court settlement as it considers future rulemaking.

The Massachusetts House passed a bill that would ease the process for property owners looking to build accessory-dwelling units.

Sen. Elizabeth Warren, D-Mass., a powerful member of the Senate Banking Committee's progressive wing, said that the Federal Home Loan banks have "failed to deliver on their housing and community development mission."

Acting Comptroller of the Currency Michael Hsu Thursday said AI providers and end-users — including banks — should share responsibility for errors that derive from artificial intelligence models.

Ginnie Mae just approved some flexibilities for extended term MBS. Here's what else is on its roadmap, according to Sam Valverde, the agency's acting president.

The Consumer Financial Protection Bureau issued a final rule pursuant to its broader open banking proposal Wednesday that would require standard-setting bodies to include public interest consumer groups and others to receive bureau recognition.

The Consumer Financial Protection Bureau Monday completed its rule establishing a nationwide database for a wide swath of financial companies — including payments companies, debt collectors, auto lenders — that have faced regulatory or legal penalties for consumer-related infractions.

The trade group says it'll fight to keep real estate and business provisions intact in a pivotal debate over the expiring Trump tax cuts.

The announcement comes after weeks of criticism from the bureau's director over fees including title insurance and credit scores.

The Department of Veterans Affairs asked servicers to suspend foreclosures beyond May, with exceptions for circumstances like borrower readiness to proceed.

The Federal Housing Administration's clarification addresses interpretations of an 8th U.S. Circuit Court of Appeals decision that increased industry costs.

The Federal Deposit Insurance Corp.'s Quarterly Banking Profile for Q1 showed that banks' net income margins got a boost, but FDIC Chair Martin Gruenberg said concerns around inflation, interest rate volatility and geopolitical uncertainty could mean tougher quarters ahead.

Beth Hammack, who stepped down as the bank's co-head of global finance earlier this year, will take the helm as President of the Federal Reserve Bank of Cleveland later this summer following the retirement of longtime President Loretta Mester.