FHFA Ends Adverse-Market Refi Fee
In a big win for both the industry and affordable housing advocates, FHFA today eliminated its 50 bps “adverse-market” refi fee, effective August 1. Importantly, FHFA expects lenders who were charging borrowers the fee to pass on this savings; how, is not made clear nor have Fannie and Freddie yet provided lender guidance.

BIS Paper: Financial Regulation Must Now Include Competition Considerations
A new, ambitious paper from the BIS uses the economic theory of financial intermediation/insurance and empirical data to assess how technology may drive financial-sector industrial organization and resulting policy challenges.

U.S. Begins to Craft Stablecoin Standards
Secretary Yellen will Monday convene the President’s Working Group on Financial Markets (PWG) along with the OCC and FDIC to kick-start U.S. stablecoin regulation.

FSOC Says Little, Likely Does a Good Deal More
Ahead of an HFSC hearing on Tuesday, Chairwoman Waters (D-CA) on Friday released her long-awaited package of housing-infrastructure and -justice bills.