McLEAN, Va. - (06/24/05) -- Mortgage rates fell across the boardthis week, resuming a decline that was halted briefly last week,according to Freddie Mac. The average for the benchmark 30-year,fixed-rate mortgage dipped to 5.57% this week, from 5.63% lastweek; while the average for the 15-year, fixed-rate loan slipped to5.16%, from 5.22%. ARM rates also declined, with the five-year ARMaverage falling to 5.05%, from 5.10% last week, and the one-yearARM average slipping to 4.23%, from 4.25%.
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The president and his allies have stepped up their verbal attacks on the Federal Reserve and its chairman in recent weeks, and while the tough talk has not changed policy, it has sent a clear message to the financial sector.
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Backed by tech billionaires, the crypto-focused digital startup bank's timely application reflects the current administration's openness to new tech-driven banking models — and raises concerns about regulatory impartiality, considering its backers' political ties.
July 2 -
The application follows on the heels of Circle and Wise, as crypto and payment companies seek crypto custody approval and direct access to the Federal Reserve payment system.
July 2 -
The credit union regulator, responding to a recent executive order, has established strict new standards for prosecuting financial crimes. Regulators are now supposed to make criminal referrals only in cases where putative defendants appear to have known they were breaking the law.
July 2 -
Three bank trade associations recommended phasing out paper checks to reduce government payment fraud in a joint statement submitted to the U.S. Treasury.
July 2 -
Baton Rouge-based Investar Holding Corp. has agreed to pay $84 million for Wichita Falls Bancshares, which operates five branches in the Dallas-Fort Worth Metroplex.
July 2