Issues guidance to extend VA-guaranteed loans to December 31. The Department of Veterans Affairs (VA) issued a guidance to mortgage servicers advising them to extend the foreclosure moratorium…
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White House Says FDIC Chair Will Step Down
The announcement comes after the Senate Banking Committee chair urged the president to select a new leader. The White House announced that President Joe Biden will be naming…
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FDIC Chair Appears Before House Committee
He accepted responsibility for the agency’s culture, which was revealed in a report. Federal Deposit Insurance Corporation (FDIC) Chair Martin Gruenberg testified before the House Financial Services Committee…
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Secretary Yellen Optimistic Heading into World Bank Meetings
She says, “America’s economic strength will continue to underpin global growth.“ Secretary of the Treasury Janet Yellen began the International Monetary Fund and World Bank meetings with financial…
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District Court Judge Blocks Updates to Federal Fair Lending Regulations
Rules that the president’s administration expanded the geographic loan requirements too far. District Judge Matthew Kacsmaryk ruled that President Biden’s administration went too far in its bank loan…
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Commerce Department Creates U.S. AI Safety Institute Consortium
Secretary Raimondo says the government has a role in setting AI standards and development. Secretary of Commerce Gina Raimondo announced the formation of the U.S. AI Safety Institute…
Read MoreBusiness and Banking Groups File Suit Against Updated Lending Policy
Changes to the Community Reinvestment Act expanded the geographic range. Multiple U.S. banking and business groups sued the Federal Reserve, Federal Deposit Insurance Corporation, and Office of the…
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Treasury Sanctions Russian Responsible for 2022 Medibank Hack
The U.S. coordinates sanctions against Alexander Ermakov with Australia and UK. The Department of the Treasury sanctioned Russian national Alexander Ermakov on Tuesday in coordination with similar sanctions…
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DOJ Collects Fraud Cases Against “Microtransactions”
Civil division official says the schemes “prey upon individuals and small businesses.“ The Department of Justice (DOJ) unsealed two cases this month filed against fraud networks that make…
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Federal Reserve Expects to Cut Rates in New Year
Central bank officials kept the current rate steady in the final meeting of 2023. The Federal Reserve concluded its final quarterly meeting this month, holding interest rates steady…
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