Hannah Lang

The Federal Reserve Racial and Economic Equity Act would direct the Fed to consider racial inequality in employment, income and access to affordable credit when making monetary policy and in its regulation and supervision of banks.

Lawmakers don't appear ready to relax requirements yet, but they may do so in future legislation in hopes of spurring more bank lending.

The measure would release $2 million in funding for the U.S. Postal Service to launch pilot programs to provide basic services such as checking accounts and bill payment.

The mortgage giants will have to meet benchmarks for covering cash flow needs during stressed periods. The FHFA views the requirements as a prerequisite to the companies exiting conservatorship.

As Senate Republicans consider a new coronavirus relief package, the Federal Reserve chairman said easing the so-called Collins amendment would help financial institutions support the economy.

The housing agency's prior permanent chief, Brian Montgomery, left the position after he was tapped to become deputy HUD secretary.

The enhanced jobless benefits in the coronavirus relief law enacted in March helped limit delinquencies and maintain consumer spending, analysts say. In their follow-up stimulus plan, Senate Republicans want to cut those benefits from $600 to $200 a week.

Many commercial property owners are locked out of existing coronavirus relief by financing terms that bar them from taking new loans. Under a House bill, they would receive government-backed equity investments.

The central bank is expanding its lending facilities meant to help businesses weather the coronavirus pandemic to organizations like educational institutions, hospitals and social service groups.

The coronavirus relief law allows forbearance plans for up to a year on federally backed mortgages, but House Democrats say homeowners have had difficulty getting relief.