Top officials at the Internal Revenue Service met with mortgage industry groups this week to discuss possible fixes to the agency’s verification system, which lenders rely on to process mortgage loans.
The Trump administration has previously signaled that it wants to bring the Office of Financial Research under its control. Now it may have the opportunity to do so.
With tax reform close to the finish line, bankers are still clear winners from the compromise worked out between House and Senate negotiators. But the bill includes some caveats that might give institutions pause.
House bill would deregulate both domestic and foreign banks that control trillions of dollars of combined assets, reducing financial stability and tying the hands of regulators to reapply heightened standards in the future.
While a robust dialogue about all forms of financial products is critical and regulation to protect consumers is necessary, removing a source of credit for hard-working Americans and eliminating choice should not be the focus of any federal agency.
For the first time in nearly nine years, an acquirer of a failed bank agreed to purchase only the institution’s insured deposits, making it likely that some customers will not recoup all of their uninsured funds.
For decades, Fannie Mae and Freddie Mac helped working-class Americans get mortgages. That essential and powerful role in the national economy is fading.
Readers chime in on the GOP’s inheriting vast regulatory powers, the continuing back and forth over who leads the Consumer Financial Protection Bureau, the root causes of cryptocurrency hacks, and more.
