The legislation is designed to put the Consumer Financial Protection Bureau (CFPB) under Congress’ oversight and add new limits to its enforcement authority. It would also allow banks to boost their capital holding while relaxing some of the Dodd-Frank Act’s banking mandates.
"Republicans are eager to work with the president to end and replace the Dodd-Frank mistake with the Financial CHOICE Act because it holds Wall Street and Washington accountable, ends taxpayer-funded bank bailouts, and unleashes America’s economic potential," said Rep. Jeb Hensarling (R-TX), the committee’s chairman. The legislation is now set to go to the full House of Representatives for debate and a final vote.
Overall residential construction, however, ticked up 0.2% in May from April, and was 18.7% above the estimate for May 2021.
Construction spending in May slipped 0.1% from a month earlier, the first decline since September 2021.
According to data released Friday by the Commerce Department, construction spending was estimated at a seasonally adjusted annual rate of $1.78 trillion, down from the re...
Redfin says a record-high share of home sellers dropped their prices after this month’s historic mortgage-rate hike.
With mortgage rates continuing to rise, home sellers are reducing their asking prices, as they face the mounting pressure of falling home affordability, according to a new report from Redfin.
The technology-powered real estate brokerage says the median asking price of newly...