Multiple federal regulators are probing Morgan Stanley over how it vets clients who are at risk of laundering money through the bank’s wealth-management division. Via ⁦AnnaMaria Andriotis⁩ wsj.com/finance/regula…

Tough to be a first-time homebuyer now wsj.com/economy/housin…

Borrowing costs have eased somewhat this year, with the average 30-year rate down about a percentage point. But other prices related to homeownership keep rising and show little sign of abating, such as property taxes and home-maintenance costs wsj.com/economy/housin…

A second possibility is that inflation, rather than on a “bumpy” path to 2%, is getting stuck at a level closer to 3%. Without evidence that the economy is slowing more notably, that could scrap the case for cuts altogether. wsj.com/economy/centra…

Even though the Swiss chickened out on an orderly resolution of Credit Suisse last year, the framework he helped develop for winding down a failed GSIB is still sound, FDIC Chief Marty Gruenberg said in a speech Wednesday.

High-value, cross-border payments just got a little better.

The Cfpb is considering whether to bar an existing mortgage industry practice of charging homeowners for title insurance that a lender is required to obtain when they sell their mortgage loans to government-controlled mortgage giants.
bloomberg.com/news/articles/…

The hidden power of index providers
'As arbiters of the rule-books defining a market, index committees have become among the most powerful allocators of capital in the world. They deserve scrutiny in accordance with this position.' ft.com/content/badb4a…

After a decade of flush coffers, Washington is bracing for lower revenue as the downtown of the nation’s capital continues to struggle with a post-pandemic recovery. bloomberg.com/news/articles/… via @citylab

Am I doing this right?

Never forget.

Sunday costco. People are fighting to get their carts around people who stop and block half the aisle. Social order is breaking down. There could be uprisings

Slightly different figures here (overdraft fee income of OCC-regulated banks with over $1 billion in assets), which has declined more than 30%, or by approximately $1.3 billion, from 2021 to 2023

.OCC says overdraft fees have fallen by 40% at large banks. occ.gov/news-issuances…

“When it comes to the economy, the vibes are at war with the facts, and the vibes are winning.” wsj.com/economy/consum…

Great read about Secretary Janet Yellen's shift from hailing a surge in Chinese exports in the early 2000's to alarm over the damage it did to US industries

(The strong dollar policy that underpinned globalization wasn't great for everyone)

Andy Duehren

wsj.com/politics/polic…