After a brief delay, the agency’s acting director signed off on Fannie Mae and Freddie Mac contributing to the National Housing Trust Fund and Capital Magnet Fund.
In successive speeches, Joseph Otting and Jelena McWilliams expressed hope for a Community Reinvestment Act rule by early next year, and also said regulators should align their small-dollar lending policies.
The Federal Housing Finance Agency is planning on finalizing its proposed capital requirements for the government-sponsored enterprises this summer, the agency's acting director said Wednesday.
The Federal Housing Finance Agency in recent years has required Fannie Mae and Freddie Mac to contribute to the funds every March, but has yet to make a 2019 request. Housing groups see the delay as a troubling sign.
The online lending industry has turned to the courts, Congress and now federal banking agencies in an effort, thus far fruitless, to blunt the impact of a 2015 appeals court ruling.
Recent remarks from top officials at the FDIC and Fed suggest the agencies' recent impasse over reforming the Community Reinvestment Act may be ending.
Comptroller of the Currency Joseph Otting and Federal Deposit Insurance Corp. Chairman Jelena McWilliams acknowledged industry concerns with the proposal meant to improve how banks comply with the trading ban.
