FRB-NY Staff: CBDCs Could Back Stablecoins
Yesterday’s blog post from the Federal Reserve Bank of New York cautioned against rapid CBDC development, suggesting that – if a central bank does issue digital currency – it also needs to consider how the private sector could then use the CBDC to back private stablecoin balances.

Senate Banking Considers Bipartisan Housing Bills, GOP Presses GSE Reform
Today’s Senate Banking hearing focused largely on bipartisan bills to improve affordable housing and combat homelessness, with Chairman Brown (D-OH) also highlighting bipartisan legislation to press small-balance FHA loans.

True-Lender Rule Toast, OCC Prepares New Version
As anticipated, the House today voted 218-208 to overturn the OCC’s controversial True Lender rule (see FSM Report PREEMPT35).

Brown, Warren: No Foreclosure After Forbearance
With mortgage forbearance set soon to end, Sens. Brown (D-OH) and Warren (D-MA) today urged acting CFPB Director Uejio to implement a uniform servicing standard that ensures that no homeowner exits forbearance into foreclosure.