The House passed the legislative package, which includes an excise tax on stock buybacks, in a 220-207 vote.

The changes, which appear to be separate from a controversial nonbank proposal that's pending, will reduce red tape for credit unions and housing finance agencies and clarify a calculation for loans eligible for repurchase.

As the Federal Reserve implemented its second 0.75% rate hike in two months, the chair said the system is able to withstand any financial stability risks that rising rates might create. 

The agency also put out a request for public comment on the role of fintech in housing finance.

In an internal memo to staff, Deputy CFPB Director Zixta Q. Martinez announced a realignment of the bureau’s legal and student loan offices with an expanded strategy team.  

Led by Rep. French Hill, the group of conservative lawmakers said the agency must do more to ensure appropriate transparency regarding any new products or activities that the enterprises undertake.

Compared to the baseline macroeconomic scenarios updated in March, near-term growth outlooks have deteriorated across most DBRS Morningstar-rated sovereigns worldwide.

Industry leaders suggested they’ve "never felt so worried at a time when everything feels so good otherwise," said Chris Herbert, managing director of the Joint Center for Housing Studies of Harvard University.

The director of the Consumer Financial Protection Bureau said he plans to take a fresh look at the Qualified Mortgage rule, the CARD Act and other long-standing rules.

Most banks’ interest income will rise following the Fed policy shift. But the rate increase also boosts the likelihood of a recession that could hurt borrowers and drive up loan losses.