Democratic senators are calling for Senate Banking Committee Chairman Tim Scott to compel the acting director of the Consumer Financial Protection Bureau to testify.

In a new interpretive letter, the Office of the Comptroller of the Currency will allow banks to serve as middlemen for "riskless" crypto trades, extending existing brokerage authority for securities to digital assets.

In oral arguments held Monday morning, a majority of Supreme Court justices seemed poised to overrule a 90-year-old precedent validating multimember independent commissions, but it remains uncertain what limits — if any — the court may impose on the president's removal powers.

The Consumer Financial Protection Bureau's acting Director Russell Vought has an obligation to request funding for the agency, five former Federal Reserve officials said. Plus, three nonprofits sue Vought and the CFPB.

Manufactured housing could see eased lending rules if the defense bill removes the "permanent chassis" requirement, expanding FHA mortgage eligibility.

The Trump administration's decision not to seek funding for the CFPB and transferring remaining enforcement cases to the Department of Justice were cited as reasons for the resignation of Michael G. Salemi, who took over as CFPB enforcement chief earlier this year.

The Government Accountability Office has agreed to investigate Federal Housing Finance Agency Director Bill Pulte for allegations of misuse of power and violations of federal privacy laws

At issue is the CFPB's weekly publication of Average Prime Offer Rate tables, a key benchmark enabling the smooth operation of the $13 trillion residential mortgage market. 

In the New Jersey case, MV Realty and its principals agreed to pay $28 million in fines and restitution for these "Homeowner Benefit Agreements."

In a relatively mild oversight hearing in the House Financial Services Committee Tuesday morning, regulatory heads at the Federal Reserve, Office of the Comptroller of the Currency, National Credit Union Administration and Federal Deposit Insurance Corp. outlined plans for reduced capital requirements and debanking enforcement.

The Consumer Financial Protection Bureau and its union filed legal briefs Friday after a district court judge asked if a preliminary injunction aimed at preventing a mass layoff is still in effect.

Now that the Consumer Financial Protection Bureau has refused to request funding from the Federal Reserve System, many experts see the case making its way to the Supreme Court.

The Federal Reserve, Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. issued a final rule Tuesday that softens leverage demands for the biggest and most systemically risky banks and lowers the community bank leverage ratio to 8%.

The Justice Department subpoenaed a key witness in the case, questioning the conduct of Bill Pulte and Ed Martin.

The Natural Treasury Employees Union has asked a district court to clarify whether Russell Vought, the acting director of the Consumer Financial Protection Bureau, has complied with a preliminary injunction.

The Consumer Financial Protection Bureau said the new oath was necessary because prior leadership engaged in what it describes as "thuggery" during exams. Former CFPB officials rejected the agency's characterization of past actions.

Federal Reserve Gov. Stephen Miran reiterated his view that monetary policy has become more restrictive than economists think, but expressed increased urgency that the central bank take strong corrective action.

Federal Reserve Gov. Lisa Cook, citing several studies, outlined her concerns Thursday that generative AI could be used to manipulate markets, and regulators have not yet thought through how to police such activity.

Federal Reserve Gov. Stephen Miran argues that banks holding excess reserves are keeping the central bank's balance sheet bigger than it should be, and suggested that regulatory changes could help bring those reserves down.

The Structured Finance Association is adding its weight to recent support for a Securities and Exchange Commission action that could modernize Reg AB II.