There are certain topics economists and financial professionals rarely enjoy talking about but are often unavoidable. Inflation is certainly one of them and, despite recent reductions in interest rates and other positive economic factors, it is a subject they are unlikely to get away from anytime soon.
Learn what one Federal Reserve governor had to say on the matter recently, along with other developments in this regulation roundup:
Fed governor delivers warning about inflation
Federal Reserve Gov. Christopher Waller spoke about the possibility that progress on inflation may be stalling at a level meaningfully above 2 percent in a speech at the American Institute for Economic Research. He suggested this risk indicates the Federal Open Markets Committee should consider holding the policy rate constant at its December meeting to collect more information about the future path of inflation and the economy. Waller offered several insights about economic indicators that influence his views, including employment rates and wage growth. Read his full speech here.
FHFA announces conforming loan limits for 2025
The Federal Housing Finance Agency (FHFA) announced the conforming loan limit values (CLLs) for mortgages acquired by Fannie Mae and Freddie Mac in 2025. Throughout most of the country, the CLL value for one-unit properties will increase 5.2 percent ($39,950) to $806,500 in 2025. The FHFA is required to adjust the baseline CLL value annually under the Housing and Economic Recovery Act (HERA) to reflect the change in the average U.S. home price. The FHFA also published its third quarter 2024 FHFA House Price Index report with statistics on the increase in the average U.S. home value over the last four quarters. Learn more here.
FinCEN joins task force on fraud, scam prevention
The Financial Crimes Enforcement Network (FinCEN) has joined a multi-sector national task force dedicated to the prevention of fraud and scams, called the “National Task Force on Fraud and Scam Prevention.” The task force was formed to facilitate coordination among financial services providers, technology companies, consumer advocacy groups, centers of information sharing and analysis, and federal government agencies to develop a national strategy for combating fraud and scams. FinCEN will participate in specific working groups geared toward developing recommendations to include in the task force’s national strategy to combat fraud through cross-sector collaboration and “whole-of-government” support. Read more here.
FDIC lists banks examined for CRA compliance in September
The Federal Deposit Insurance Corp. (FDIC) issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings assigned by the FDIC in September. Only two of the 65 entities included in the list received grades indicating they “need improvement” in terms of CRA compliance. Three banks received “outstanding” ratings: Bank of Wiggins in Wiggins, Miss., Waukesha State Bank in Waukesha, Wis., and Liberty Bank in Middletown, Conn. View the full list here.