Key insight: Bank regulators typically offer supervisory relief for banks so they can offer credit during temporary hardships like shutdowns and natural disasters. What’s at stake: Thousands of government workers and contractors could go without paychecks depending on how long the shutdown lasts. Forward look: It’s not clear if the White House will try to […]
Exclusive: Waters presses bank regulators on shutdown relief Read More »
Key insight: The Office of the Comptroller of the Currency is paring down nearly all community bank regulatory measures not required by law, leaving it up to examiners to determine applicable requirements. Expert quote: “Community banks have an outsized impact on lending and are vital to the strength of the U.S. economy. Today’s actions relieve
OCC to dramatically reduce community bank regulation Read More »
An appellate court has ruled against Flagstar Bank in a California case which had been mentioned in connection with a New York escrow interest case heard by the U.S. Supreme Court. The ruling in Kivett v. Flagstar was the second against a bank in recent weeks. A Sept. 22 First Circuit ruling sent a similar
Flagstar mortgage escrow ruling upheld by Ninth Circuit Read More »
Key Insight: Payroll firm ADP showed that employers lost 32,000 jobs in September, but the Bureau of Labor Statistics did not release its scheduled jobs report Friday because of the federal government shutdown. Forward look: The Fed cut rates by 25 basis points in September as a “risk management” move. The absence of a key
Even as shutdown halts BLS data, hiring appears to be slowing Read More »
A message on the Department of Housing and Urban Development’s website blaming “the Radical Left” for the government shutdown has prompted legal complaints and accusations of a Hatch Act violation. HUD officials Wednesday pushed back on criticism of the pop-up window and banner on their home page stating “The Radical Left in Congress shut down
HUD accused of violating Hatch Act over shutdown message Read More »
Key insight: Hill has overseen a sharp deregulatory pivot at the FDIC, with priorities centered on rolling back Biden-era rules and limiting the agency’s role in liberal-aligned issues like climate change and diversity. Supporting data: If confirmed, Hill would serve a five-year term, succeeding Martin Gruenberg; the FDIC board is now entirely Republican, giving him
Trump nominates Travis Hill for permanent FDIC chair Read More »
The Financial Crimes Enforcement Network, FinCEN for short, has delayed the enforcement date of its residential real estate reporting rule. The announcement exempts “all reporting persons” from compliance with the anti-money laundering regulation from Sept. 30 until March 1, 2026. The rule was supposed to go into effect on Dec. 1. This rule was promulgated
FinCEN delays controversial real estate reporting rule Read More »
Freedom Mortgage faces a proposed class action lawsuit, which alleges the lender made several marketing calls to a South Carolina resident in violation of federal and state regulations. Plaintiff Brittany Williams said she received multiple calls from three different Freedom Mortgage originators between July 24, 2025, and Aug. 5, all presenting her with options for
Freedom Mortgage faces charges of TCPA violations Read More »
CrossCountry Mortgage is rejecting accusations that it operated a kickback scheme, and is defending the comarketing agreement in question as lawful. The retail giant in a legal filing Monday offered several arguments to a federal court regarding why a borrower’s Real Estate Settlement Procedure Act complaint falls short. Jeremiah VonBlohn and five other North Carolina-based
CrossCountry defends comarketing deal in RESPA lawsuit Read More »
What’s at Stake: The union’s counsel warns that the appellate panel’s ruling permits the unilateral elimination of federal agencies. Expert Quote: “It enables agencies to avoid judicial scrutiny of virtually any decision.” — Jennifer Bennett, National Treasury Employees Union. Supporting Data: The Trump administration wants the CFPB’s headcount cut to 200, down from 1,750 in
CFPB’s union appeals agency’s ‘dismantling’ to D.C. Circuit Read More »