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
The ongoing political backlash against various companies’ ESG policies repeatedly fails to produce evidence of lowered financial returns, writes Sam Raus.Leonid Sorokin/Leonid – stock.adobe.com This month the State of Texas government terminated an $8.5 billion investment managed by BlackRock, the world’s largest asset management firm, over the company’s continued use of environmental, social and governance
Gate House Strategies, the consulting firm co-founded by Brian Montgomery, the former Housing and Urban Development official, is now offering fair lending and other compliance management services through a new subsidiary. Among the founding partners at the new business, Gate House Compliance, is Michael Waldron who was the founder of Compliability Solutions, and the former
Rep. Blaine Luetkemeyer, R-Mo., announced Wednesday that he will be retiring from Congress after his current term. Luetkemeyer had been seen as a frontrunner to serve as top Republican on the House Financial Services Committee after committee chairman Patrick McHenry, R-N.C., announced his retirement last month. Bloomberg News WASHINGTON — Rep. Blaine Luetkemeyer, the