Organization Root Tag

The company reached an agreement with 39 states to pay $1.85 billion to resolve claims that it had used predatory lending practices.

The SEC claims Morningstar put investors at a risk when rating $30 billion in CMBS deals from 2015-2016. Morningstar defends its integrity and independence.

Jerome Powell sought to strike a political balance at his reconfirmation hearing. He assured Republicans the Federal Reserve wouldn't overstep its authority on bank mergers and other matters, while telling Democrats the central bank has a responsibility to monitor financial stability and the risks of climate change.

The Senate Banking Committee will hold separate hearings next week for Jerome Powell on his nomination to a second term as Federal Reserve chair and for Lael Brainard’s elevation to vice chair.

Two days after one of the Federal Reserve’s most hawkish pivots in recent years, the rates market is already calling the central bank’s bluff.

Investors responded to the Federal Reserve’s intent to tackle inflation with a clear risk-on pivot, as stocks climbed and Treasuries steadied.

However, the unusual profitability residential finance firms have previously enjoyed, and a strong housing market, could help to sustain their bottom lines.

HUD official Alanna McCargo takes over the top job at the government corporation, which has had a series of acting leaders since 2017.

The hottest rate of inflation in four decades has ushered in a wilder era of bond-market volatility, causing investors to shop for hedges to protect their portfolios.

Founded in the wake of the global financial crisis, KBRA has issued more than 51,000 ratings representing almost $3 trillion in rated issuance since 2010.

Prospects that inflation will be held in check may weigh against the need for the Fed to speed up the process of policy tightening.

Chryssa Halley, who has been with the company since 2006, was named CFO and Jim Holmberg was named controller.

He also told the Senate that he wanted to retire the word “transitory” to describe price increases, and he said inflation pressures will “linger well into next year.”

Jerome Powell’s appetite for a faster tapering of Federal Reserve stimulus is casting him in a role financial markets haven’t seen since 2018: hawk.

The FOMC decided to leave interest rates near zero and begin scaling back the pace of purchases in the $120-billion-per-month bond-buying program it launched last year, with an eye toward completing the process by mid-2022.

The sponsor’s strong track record mitigates risks, including “dirty current” loans and low FICO scores.

In a letter to the agency’s new director, top Senate Democrats recommended policy steps intended to limit mistakes in consumers’ credit files that they said “can ruin lives.”

Offsetting the weak job-creation number were an upward revision to August payrolls, a bigger-than-expected drop in unemployment and a faster pace of wage growth.

Republicans believe there’s enough time left if Democrats start Wednesday or Thursday, a GOP aide said on condition of anonymity. Republicans could keep the vote-a-ramas very limited to keep things moving along.

The bond-market influencer has for months urged the Fed to reduce its asset purchases before inflation runs rampant and batters financial markets.