WASHINGTON — Mortgage applications decreased 4.4% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 1.
Fresh Today
WASHINGTON—Five banking trade groups are pushing back on proposed Senate language governing stablecoin interest and rewards payments, saying the draft “falls short” of its stated goal of preventing yield-bearing stablecoins from drawing deposits out of banks, the Bank Policy Institute reported.
WASHINGTON—Federal Reserve Vice Chair for Supervision Michelle Bowman warned that consumer fraud has become a growing threat to both households and the broader financial system, saying scams are escalating in “scale, sophistication, and impact” as criminals increasingly exploit digital payments and banking tools.
WASHINGTON--With the CFPB finalizing and updating the Equal Credit Opportunity Act (ECOA) last month, America’s Credit Unions has a new Final Rule Summary available analyzing its impact on credit unions.
LONDON— Visa has partnered with TikTok to launch a new debit card for U.K.-based content creators, a move aimed at helping creators separate business and personal finances and gain faster access to income earned through TikTok LIVE, according to PYMNTS.
NEW YORK--Even before the next phase of U.S. stablecoin regulation is fully in place, major Wall Street firms are moving to build the back-end infrastructure for the market, with Morgan Stanley Investment Management launching a government money market fund designed specifically to hold reserves backing payment stablecoins, according to PYMNTS.
COLUMBUS, Ohio—The Ohio Bankers League is escalating its opposition to the proposed acquisition of $225-million The Hicksville Bank by $2-billion Interra Credit Union, warning it is prepared to pursue legal action to block the deal as it moves through regulatory review.
WASHINGTON--CU Student Choice, the leading provider of education financing solutions for credit unions, marked its 18th anniversary on May 5 at a pivotal moment for the industry, with significant changes and new opportunities on the horizon in the student loan space.
WASHINGTON--The Defense Credit Union Council on Tuesday directly engaged both the House and Senate Armed Services Committee leadership outlining bipartisan priorities for inclusion in the FY2027 National Defense Authorization Act (NDAA).
WASHINGTON—The White House is continuing to push back against Anthropic’s effort to expand access to Claude Mythos, the company’s powerful cybersecurity-focused AI model, amid growing concerns the tool could be used to identify and exploit vulnerabilities in critical systems.