CFPB Targets FHA, Refi Discount Points
The CFPB released a report finding that the percentage of homebuyers paying discount points roughly doubled from 2021 to 2023, with the increase more pronounced for buyers with lower credit scores.
Treasury KYC Proposal Coming This Year
In remarks, Treasury Undersecretary Brian Nelson made it clear that, as we anticipated, FinCEN’s pending RFI on KYC procedures will be reflected later this year in formal rulemaking as required by the 2021 law (see FSM Report AML133).
Bowman Focuses on Limited Liquidity-Resilience Reform
Building on her comments earlier this week regarding liquidity regulation, FRB Gov. Bowman said that regulators should “encourage, but not mandate” the exercise of contingent-funding plans, noting a fine line between bank supervision and interfering with bank management.
FSB Secretary General Calls For Tokenization Research
Reiterating the FSB’s ongoing stablecoin and digital-asset work, the Board’s Secretary General, John Schindler, today indicated that it would be useful for researchers to explore the potential use cases, benefits and risks of tokenization.