Senate Majority Leader Chuck Schumer, D-N.Y.Bloomberg News WASHINGTON — Senate Majority Leader Chuck Schumer said at a virtual campaign event that he believes the Senate could pass crypto legislation before the end of the year. “Passing legislation this year is absolutely possible, even in these divided times,” he said. The event, known as “Crypto4Harris”
Federal Reserve Chair Jerome Powell said the best thing the central bank could do for the housing market is beat back inflation. Recent trends in the mortgage market show that playing out. Housing advocates and real estate groups spent months arguing that the Federal Reserve had to lower rates to ease the nation’s housing woes,
A shortage of Federal Highway Administration emergency relief funds and the fact that it is a toll bridge could play a role in determining who pays what toward the eventual replacement of the Francis Scott Key Bridge in Baltimore. “Currently, the ER program itself is drastically short of the funding necessary for all the eligible
Ginnie Mae has been able to provide continuity on several key initiatives since Sam Valverde stepped in as acting president last month, and he says those aimed at sustaining mortgage liquidity will be the agency’s top priority as it moves forward. This includes steps that may counter interest-rate related cash-flow strains on the growing number
The Supreme Court held in a 7-2 ruling Thursday that the Consumer Financial Protection Bureau’s funding structure — whereby their operating costs are paid by the Federal Reserve subject to a cap — complies with the Constitution’s Appropriations Clause, reversing an opinion by the 5th Circuit Court of Appeals.Bloomberg News The Supreme Court ruled on
The Federal Reserve publicized the results of its climate stress test pilot program Thursday and found that the biggest banks could face higher loan defaults on commercial real estate and residential real estate loans as well as loan defaults related to a decarbonizing economy over the coming decades.Bloomberg Creative Photos/Bloomberg Creative WASHINGTON — The largest banks
The U.S. Department of Transportation Wednesday announced its first-ever Transportation Infrastructure Financing and Innovation Act loan for a transit-oriented development project. The loan marks the first of what’s likely to be several similar loans from the USDOT’s Build America Bureau, which supports transportation development with a variety of financing structures, including public-private partnerships and private