Undaunted by inflation and recession risk, credit-card issuers have allocated more funds to marketing and promotional expenses, have attracted new customers and are hoping to see increases in account balances.
On August 1, Sen. Mark Warner (D-VA) and Mike Crapo (R-D) announced the formation of a bipartisan Congressional caucus aimed at supporting Community Development Financial Institutions (CDFIs) and Minority Depository Institutions (MDIs), which have been receiving growing attention and significant increases in funding from the Biden Administration in the last two years.
In late July twenty members of Congress submitted a bipartisan letter to the Securities and Exchange Commission (SEC) regarding its enforcement of Rule 15c2-11 and the negative implications for 144A debt offerings.
This past week, the House Financial Services Committee (HFSC) scratched plans to hold a vote on legislation that would have imposed federal regulations on the cryptocurrency sector, specifically stablecoins, making it the first of its kind.
The Wall Street Journal reports that student loan servicers contracted by the federal government were instructed to hold off on sending billing notices, prompting speculation that President Biden is considering extending the loan payment moratorium past the August 31 deadline.
As the overheated housing market demand cools off amid rapid interest rate and price increases, the June report from Redfin came in with a 2% increase in the quantity of homes on the market nationwide. This is the only month to show an increase in inventory since July 2019.