FSOC Moves to Tame Mortgage Market Risks

Also, CFPB late fee rule stayed; a divided CFTC proposes election betting ban

How’s that for a Friday news dump? The FSOC delivered a broadside at non-bank mortgage companies this afternoon, saying they collectively present a risk to financial stability. And the Treasury-led group called for a whole lot more oversight at the state and federal level. Its ambitious recommendations, outlined in a 55-page report, would impact the ent…