FEDERAL GOVERNMENT RELATIONS
Treasury proposes rule to bar large institutional investment in single-family homes
The Treasury Department proposed a rulemaking to prevent large institutional investors from purchasing single-family homes, as required by housing legislation recently passed by Congress. A large institutional investor is defined as an investor that has direct or indirect control over at least 350 homes. Penalties for violating the law can range from $1 million to three times the purchase price of the property involved.
Trump issues additional orders intended to lower housing costs
The president issued new directives through executive order seeking to lower the costs of single-family homeownership and mortgages. The order directs the Federal Housing Finance Agency director to reduce homeowners’ refinancing costs by expanding FHFA’s existing title insurance waiver pilot into a permanent program.
Federal appeals court strikes down the Fed’s debit card fee cap
A federal appeals court struck down the Federal Reserve’s 15-year-old regulation setting debit card interchange fees, called Regulation II. The Eighth U.S. Circuit Court of Appeals ruled that the Fed exceeded its authority in determining the costs banks could include when calculating the fees.
ABA elects officers, board members for 2026-2027
Members attending the American Bankers Association’s Annual Convention in Salt Lake City elected new officers and directors to serve on ABA’s board for the 2026-2027 association year. The slate of officers included James “Jim” C. Ryan III, chairman and CEO of Old National Bank, Evansville, as ABA’s chair-elect.