The Federal Reserve announced there will be no change to the federal funds rate following the May meeting of the Federal Open Markets Committee (FOMC). The committee concluded maintaining the target range at 4-1/4 to 4-1/2 percent was the best approach given economic indicators suggesting the risk of higher inflation and unemployment has increased.

Federal banking regulators have taken steps to improve clarity surrounding digital banking activities, including crypto-assets and digitalization. Find out about some of the latest regulatory moves in this respect and more in this roundup.

The Consumer Financial Protection Bureau moved for dismissal regarding multiple claims cited in a lawsuit challenging the legality of its final rule prohibiting medical debt information from being considered in credit decisions.

In the agency’s latest announcement regarding its enforcement and supervisory priorities, the Consumer Financial Protection Bureau said it will not prioritize oversight of “Buy Now, Pay Later” (BNPL) loan providers. The bureau also is considering further action related to its new policy position on BNPL products.

The Office of the Comptroller of the Currency is seeking comments on a newly adopted interim final rule amending its 2024 final rule related to its procedures for evaluating applications under the Bank Merger Act.

If you have ever wondered how artificial intelligence stuff works, you are not alone. Listen and learn as author and futurist Brian Carter discusses one of the biggest tech revolutions in decades on the Keys to Real Estate podcast and why he believes it is more than just hype. Be sure to catch his presentation at the 2025 National Settlement Services Summit in Pittsburgh.

Frontier Credit Union took a step toward expanding its operations into new territory with an agreement to acquire a community bank based in Montana. The news drew the attention of community banking advocates concerned about the ongoing trend of bank purchases by tax-exempt credit unions.

As part of the ongoing budget reconciliation process in Congress, the House Financial Services Committee voted along party lines to approve a resolution to greatly reduce funding for the Consumer Financial Protection Bureau and to no longer allow the bureau to retain unspent funds in its civil penalty fund from year-to-year.

The Consumer Financial Protection Bureau announced it will not prioritize enforcement or supervisory actions with respect to its small business lending rule. The bureau framed the move as a measure of fairness toward companies not covered by a court-imposed stay on the rule’s compliance deadlines.