FEDERAL GOVERNMENT RELATIONS
Fannie, Freddie directed to consider allowing cryptocurrency for mortgages
Federal Housing Finance Agency Director Bill Pulte directed Fannie Mae and Freddie Mac to prepare proposals to allow cryptocurrency to count as an asset for a mortgage.
Powell: Proposal to end Fed interest payments to banks would be ‘challenging’
A proposal to prevent the Federal Reserve from paying interest to banks would neither save the government money nor make more credit available, Fed Chairman Jerome Powell said.
FedNow adds risk mitigation feature, boosts transaction limit
The FedNow instant payments service this week announced it has launched a new account activity threshold feature and raised its transaction limit from $500,000 to $1 million.
House passes ‘trigger leads’ bill
The House passed by voice vote legislation prohibiting credit reporting firms from selling mortgage applicant information to lenders who then barrage those same consumers with unwanted solicitations.
Fed removes reputational risk from bank exams
The Fed has started the process of removing references to reputation and reputational risk from its supervisory materials, “and, where appropriate, replacing those references with more specific discussions of financial risk.”