Key insight: Federal Reserve Chair Jerome Powell said the central bank had been served subpoenas by the Department of Justice. Expert quote: “This is about whether the Fed will be able to continue to set interest rates based on evidence and economic conditions — or whether instead monetary policy will be directed by political pressure […]
Powell says DOJ served Fed subpoenas, threatened indictment Read More »
Bloomberg News Processing Content What’s at Stake: Russell Vought, who also leads the Office of Management and Budget, has publicly stated his intent to shut down the CFPB, and recently refused to request funding for the agency. Supporting Data: Under the Federal Vacancies Reform Act, the lapse enables Russell Vought to remain as the acting
With CFPB nominee lapse, Vought continues as acting director Read More »
US President Donald Trump said he was directing the purchase of $200 billion in mortgage bonds, which he cast as his latest effort to bring down housing costs ahead of the November midterm election. Processing Content Trump announced the move on Thursday in a social media post, which was unclear on how the buys would
Trump directs $200 billion mortgage bond buy in housing push Read More »
A federal judge on Tuesday ruled against the Trump administration as it seeks to shut down the Consumer Financial Protection Bureau (CFPB) by refusing to fund it. The judge ordered the administration to continue to seek funding for the bureau, which was created by Congress but is funded through the Federal Reserve. The Trump administration
Federal judge orders Trump administration to seek money for CFPB Read More »
Key insight: A group of 22 state attorneys general — all Democrats — filed a lawsuit against the Consumer Financial Protection Bureau, Federal Reserve and acting CFPB director Russell Vought, challenging the administration’s position that the Fed can only fund the CFPB when the Fed itself is profitable. Expert quote: “The failure to request funding
Democratic AGs file suit demanding CFPB funding Read More »
President Donald Trump’s new executive order that creates a single federal framework for artificial intelligence (AI) is reverberating throughout the housing industry. While states have been moving to regulate AI tools used in home pricing, marketing, tenant screening and mortgage decisions, the new order asserts federal authority over AI regulation. The Department of Justice (DOJ)
Will federal AI regulations override state housing efforts? Read More »
Bloomberg News Processing Content Key Insight: The U.S. Court of Appeals for the D.C. Circuit granted the National Treasury Employee Union’s petition for an en banc rehearing, vacating a prior 2-1 ruling in favor of acting CFPB Director Russell Vought. What’s at Stake: The court’s decision was influenced by dozens of lawmakers and nonprofits who
Appeals court agrees to rehear CFPB union’s case Read More »
The Department of Housing and Urban Development (HUD) announced Thursday that it is opening an investigation into the city of Boston’s housing policies, examining perceived discrimination against white residents. In a letter to Mayor Michelle Wu, Craig Trainor — HUD’s assistant secretary for fair housing and equal opportunity — said city officials had prioritized people
The Housing for the 21st Century Act — the U.S. House’s version of the Senate-approved ROAD to Housing Act — was unveiled Wednesday. Led by sponsors including Chairman French Hill (R-Ark.), Ranking Member Maxine Waters (D-Calif.), Chairman Mike Flood (R-Neb.) and Ranking Member Emanuel Cleaver (D-Mo.), legislation aims to boost housing development and improve affordability
U.S. House unveils Housing for the 21st Century Act Read More »
A new multi-state coalition is warning that worsening floods across Appalachia — and the federal government’s uneven response — are heightening risks for communities, infrastructure and real estate markets across the region. The Appalachian Flood Resilience Coalition recently convened for the first time to examine Federal Emergency Management Agency (FEMA) funding fights, stalled mitigation programs
Coalition presses for stronger federal flood response, eyes ROAD to Housing Act Read More »