Kyle Campbell covers the Federal Reserve and housing policy for American Banker. Previously, he wrote about institutional investment in real estate for PERE. He has also held staff positions at Real Estate Weekly, the New York Daily News and the Southampton Press.
A federal judge in Wyoming said the scope of the lawsuit could change but that he expects it to proceed. It would be the first master account challenge to go to trial.
Delinquencies are on the rise for FHA-backed loans, with nearly 10% of low-credit borrowers in early payment default. Economists and policy experts say this could signal trouble ahead for other credit products.
An appeals court ruling last week found that the Consumer Financial Protection Bureau's funding structure violates the Constitution, but another court filing shows how the agency might fight back.
In a letter to Federal Reserve Chair Jerome Powell, the chair of the Senate Banking Committee warned that the Fed was in danger of going too far in its efforts to tame inflation.
The Fed's interest rate hikes are meant to tame inflation, but the secondary impacts on housing could give the central bank a reason to pump the brakes.
Attorneys general from 19 states issued subpoenas to six large banks seeking information about their climate policies. They say they're seeking to hold banks accountable for the fairness of their ESG policies to fossil-fuel companies, but others call it intimidation.
The bank regulators said they are open to all possibilities as they sought input on potential changes to resolution policies for large regional banks, but that hasn't stopped policy specialists from reading between the lines.
The regulators laid out several measures that would change how large but not global systemically important banks capitalize and structure themselves.
The Wyoming-chartered digital bank, which is suing the Federal Reserve for the right to a master account, says the central bank is applying a double standard on crypto custody.
The vice chair for supervision warned banks to be on the lookout for liquidity risks and illegal activity when dealing with the crypto sector.