Weekly Brief: BoA Sued; SCOTUS Shortlists; Fund Fights Argentina
BuzzFeed has struck a deal with Verizon Media to acquire HuffPost, a mash-up that “would join a pair of digital-media giants that have found themselves searching for readers and revenue as they have fallen prey to some of the...more
In recent days, the federal government, the state of California, and many local governments have taken action to provide tenant and homeowner protections in response to the COVID-19 pandemic....more
What legislative activity can we expect in 2020 in the area of housing finance reform? With the Senate kicking off the New Year with an impeachment trial, it is highly unlikely Congress will make much headway on housing...more
Fiat Chrysler and rival Peugeot have agreed to binding merger terms that, if approved by US and European regulators, would create a “$50 billion auto giant that would rank among the world’s largest car companies by sales”....more
The City of London has denied Uber’s request to extend its license in the city over concerns for rider safety. The decision puts Uber’s 45,000 drivers there in limbo, though they’ll be able to continue operating while the...more
The prospect of the U.S. Congress acting on housing reform this year remains unlikely. The House Democrats’ determination to formalize the impeachment inquiry into President Trump’s involvement with Ukraine and begin public...more
We continue to gauge the potential for Congress to act on the administration’s housing finance plan and/or pass their own before adjourning for the year. When Congress returned from August recess, members faced an ambitious...more
Jobs Report Friday! Here’s what to look for in the numbers – WSJ and Bloomberg and NYTimes The White House has rolled out its “long-awaited plan” to return federal mortgage giants Fannie Mae and Freddie Mac to the private...more
In the internal battle between keeping China off balance and keeping Wall Street happy, the White House has decided once again to focus on the latter, walking back the latest tariff escalation by postponing promised...more
A round of internal Facebook emails produced in response to an FTC probe appear to show that the company’s “potentially problematic privacy practices” had filtered their way up to the very top of the social networking...more
Fed vice chair Richard Clarida, in comments to the Economic Club of NY on Thursday, hoped to calm turbulent markets by noting that central bank officials would indeed consider lower-than-desired inflation along with “global...more
US banks are reporting that cases of financial abuse of seniors are on the rise. Treasury department data showed a 2-fold increase in suspected cases from just 5 years ago and a 12% increase from just a year ago....more
Late last month, President Trump’s administration released a wide-sweeping reform and reorganization plan for the federal government. Included in this plan was a proposal to reform two of the largest government sponsored...more
Outlook for This Week in the Nation's Capital - Senate Floor. The Senate is schedule to finish its work this evening on the minibus appropriations bill, a three-bill spending package that includes Energy and Water...more
U.S. Financial Industry Developments - Economic Growth, Regulatory Relief and Consumer Protection Act - The "Economic Growth, Regulatory Relief and Consumer Protection Act," signed by the President on May 24, amends...more
An early look at the reaction from allies Canada, Mexico, and the EU to this week’s announcement from the White House that it was moving forward with steel and aluminum tariffs against these US trading partners....more
Outlook for This Week in the Nation's Capital - FY18 Appropriations Work Already Underway. Since the passage of the bipartisan budget deal this past Friday, House and Senate Appropriations Committees have already begun...more
Another short-term continuing resolution is all but guaranteed as the current continuing resolution will expire later this month and budget talks last week did not result in a deal or hint at one in the near future. As the...more
Busy January: Congress has left town with a long list of items that it will need to handle in January and throughout the first quarter of 2018. The continuing resolution that Congress just passed only funds the government...more
Hurricane Supplemental Includes $29B for Disaster Aid and Flood Insurance: Of the $29B, the National Flood Insurance Program will receive $16B to pay flood claims. The House plans to pass the bill next week and the Senate the...more
US Budget Deficit Narrowed to $42.9 Billion in July: The federal budget deficit fell sharply in July from a year earlier, largely because of a quirk in the calendar. The U.S. Treasury Department said that the budget gap came...more
Financial Industry Developments - Federal Reserve Board Announces Finalized Rule Adjusting the Board's Maximum Civil Money Penalties - On January 18, 2017, the Federal Reserve Board announced that it was adjusting...more