Economy

Vice President Kamala Harris outlined a raft of populist economic proposals in her first major economic speech since securing the Democratic presidential nomination, including some aimed at lowering housing costs and boosting supply.

Sellers of contract-for-deed home financing deals must provide disclosures, financing terms and assess a borrower's ability to repay, the CFPB said in an advisory opinion.

Fortuna Bank in Columbus would be the third U.S. bank specifically formed to be women-owned, according to its organizers. Supporters say it's another win toward obtaining gender-equitable capital access.

Beneficial State Bank — which was joined by various civil rights groups — said in an amicus brief that the regulatory reforms are much-needed and that banking groups' legal challenge to the Community Reinvestment Act rules should be dismissed.

Democrats Ritchie Torres and Gregory Meeks called on the New York Home Loan bank to follow the lead of its peers and use alternative credit scoring models for collateral to improve consumers' access to homeownership.

The 30-year fixed rate loan was down 26 basis points as investors reacted early in the week to the employment numbers, according to Freddie Mac.

The parent company of Fulton Bank announced the creation of three new management roles and promoted existing employees into those jobs. The changes follow the recent hiring of an outsider to be CFO.

Bond traders now see a roughly 60% chance of an emergency quarter-point cut by the Federal Reserve within one week because of the market turmoil.