The U.S. House Financial Services Committee should play a leading role in overseeing the adoption of artificial intelligence (AI) in the nation’s financial services and housing industries, according...
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Final guidance was issued last week by federal regulatory agencies that addresses reconsiderations of value (ROVs) for residential real estate transactions. The guidance advises on policies and pr...
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A dozen U.S. senators from both sides of the aisle recently proposed legislation that would make several improvements to the nation’s unemployment insurance system to combat fraud and improve access...
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A final rule issued on July 17 by six federal regulatory agencies will implement quality control standards for automated valuation models (AVMs) that are used by mortgage originators and secondary mar...
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The U.S. Department of the Treasury and the Financial Services Sector Coordinating Council (FSSCC) have made resources available to financial services firms on best practices for secure cloud adoption...
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The Consumer Financial Protection Bureau (CFPB) has proposed an interpretive rule explaining that many paycheck advance products are consumer loans subject to the Truth in Lending Act. The guidanc...
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The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) on Tuesday sanctioned several individuals for timeshare fraud they perpetrated on Americans via Mexico-based transnation...
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Financial technology company Aven received a $142 million series D round of funding for its new credit card product. Aven, founded in 2019 by Sadi Khan, Collin Wikman, and Murtada Shah, is developing...
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Discover Bank, a subsidiary of Discover Financial Services, is selling its private student loan portfolio. The loan portfolio will be sold to one or more strategic partnerships comprised of investm...
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The Consumer Financial Protection Bureau (CFPB) recently took two actions against Cleveland-headquartered Fifth Third Bank to settle both the bureau’s investigation into the bank’s auto insurance ...
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U.S. President Joe Biden announced plans this week that seeks to lower housing costs, create more affordable housing, and control the cost of rent. The Biden-Harris Housing Plan would build 2 milli...
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The Conference of State Bank Supervisors (CSBS) and the National Association of State Credit Union Supervisors (NASCUS) are urging the Federal Housing Finance Agency (FHFA) not to make any changes to ...
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Six Democratic senators in Congress want an explanation from JPMorgan Chase (JPM) about why the firm is retreating from its nearly two decades of pledges to help mitigate climate change. “Thi...
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The Federal Housing Finance Agency (FHFA) is rolling out new projections for tenants in multifamily properties financed by Fannie Mae and Freddie Mac. This marks the first time tenant protections w...
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The U.S. Senate passed legislation to help inform veteran homebuyers of their eligibility for the VA Home Loan Program. The VA Home Loan Awareness Act of 2023 (S.3068) seeks to promote the VA Home ...
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U.S. Rep. Darrell Issa (R-CA) introduced a bill that mandates disclosure of third-party litigation financing agreements in civil lawsuits. Currently, civil litigation is funded by undisclosed third...
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The U.S. Department of the Treasury and Internal Revenue Service (IRS) reached a major milestone, collecting $1 billion in overdue taxes from high-income individuals. The effort was made possible b...
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Republicans on the U.S. House Ways and Means Committee urged the Biden administration to initiate a federal investigation into Canada’s digital services tax (DSTs), a 3-percent levy that applies to ...
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The U.S. Office of the Comptroller of the Currency (OCC) amended an Oct. 7, 2020, Cease and Desist Order against Citibank related to deficiencies in its risk management, compliance, data governance, a...
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U.S. Sens. Ron Wyden (D-OR) and Mike Crapo (R-ID) are the main sponsors on a bill that would make improvements to the unemployment insurance system. The legislation, titled the Unemployment Insura...
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