
Federal Reserve likely to ignore Trump, keep rates unchanged this week
President Trump and Treasury Secretary Scott Bessent have said that inflation has steadily cooled and high borrowing costs are no longer needed to restrain price increases.
President Trump and Treasury Secretary Scott Bessent have said that inflation has steadily cooled and high borrowing costs are no longer needed to restrain price increases.
Rocket Cos. said Monday that bringing Mr. Cooper Group Inc. into the fold will create a business representing one in every six mortgages in the United States and give it almost 7 million additional clients.
Fed officials have signaled interest rates may be on hold for some time amid uncertainty about President Donald Trump’s economic policies, particularly on trade.
The $249 million plan calls for rehabilitating the 116-year-old former municipal building at 202 Alabama St. and building a 387-foot tower with 186 apartments, 23 condominiums and 156 hotel rooms.
In addition to the three U.S. carmakers, several other nonfinancial businesses are interested in seeking regulatory permission to launch their own banks.
With the committee deadline over, lawmakers are now working with fewer bills in the 2025 session.
Montana Renewables is a subsidiary of Indianapolis-based Calumet Specialty Products Partners LP. Calumet launched Montana Renewables in 2021 with the goal of becoming one of the top renewable diesel producers in North America.
Critics of the bill, authored by Republican Rep. Jake Teshka, summed the proposal up as “re-warmed payday lending.”
The White House is pausing federal grants and loans starting Tuesday as President Donald Trump’s administration begins an across-the-board ideological review of its spending.
The Consumer Financial Protection Bureau rule will remove $49 billion in medical debt from the credit reports of more than 15 million Americans, according to the bureau.
While sales of previously occupied U.S. homes rose in November for the second straight month, the housing market remains in a slump and on track for its worst year since 1995.
Funding will go toward updating aging water systems and replacing lead pipes, building and expanding water systems in growing areas and improving cybersecurity systems.
Veterans own nearly 2 million small businesses that employ 5.5 million people in the U.S. Their numbers have shrunk, however, as the veteran population has aged.
While lower rates give home shoppers more purchasing power, a mortgage around 6% is still not low enough for many Americans struggling to afford a home.
The settlement stems from a 2017 lawsuit brought by the bureau that casts Navient as a company that was far more concerned with its financial interests than the needs of vulnerable student loan borrowers.
The SBA awarded about 4 million loans worth $380 billion through the program. More than $300 billion was outstanding as of late 2023.
The recent pullback in mortgage rates overall has sparked a pickup in applications for home refinancing loans, which are 23% higher than a month ago, according to the Mortgage Bankers Association.
Refinance applications were up nearly 60% nationally versus the same week last year, but applications for loans to buy a home are still down from a year ago.
The Consumer Financial Protection Bureau said Thursday that apps that allow workers to access their paychecks should be subject to the Truth in Lending Act, a 1968 law that requires lenders disclose all loan costs and fees.
Consumer Financial Protection Bureau Director Rohit Chopra said the bank had been “illegally loading up auto loan bills with excessive charges,” with about 1,000 families losing their cars to repossession as a result.