Politics

The government conservatorship of Fannie Mae and Freddie Mac wasn't meant to last forever, but releasing the companies is complicated and should involve a diffident Congress, housing policy experts said during a Federal Reserve Bank of Atlanta housing panel.

The Trump administration's plan to reduce the performance of the Community Development Financial Institutions Fund would sacrifice the United States' most cost-efficient investment in itself.

A federal judge granted a preliminary injunction that preserves the Consumer Financial Protection Bureau's existence, reinstates fired employees and contracts, requires data be preserved and mandates that employees go back to work.

In a surprise move, the Consumer Financial Protection Bureau said that it will not enforce or supervise lenders for the final payday lending rule. The bureau also plans to  narrow the scope of the rule.

The Federal Reserve governor said it is healthy to examine the regulatory architecture, but stressed the importance of the central bank having insight into the banking system.

A group of states are pursuing similar efforts to cap credit card interchange fees, endangering rewards programs that customers value and raising concerns about an illegal interstate compact.

The Treasury Department told the OMB that all 11 programs in the CDFI Fund are statutorily mandated. The White House said "no final decisions have been made" about the programs.

The Federal Reserve, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency say they will move to rescind a 2023 reform to the Community Reinvestment Act, citing litigation concerns about the rule.

The SEC had sued the cryptocurrency exchange for allegedly operating as an unregistered securities exchange, broker, dealer and clearing agency. The case was dropped with prejudice.

The acting chairman of the agency had laid out an ambitious agenda for revamping regulations and encouraging innovation, but there are dangers in trying to do too much, too soon.