The deduction for mortgage insurance premiums and a tax break on forgiven mortgage debt had expired at the end of 2017 while funding for the National Flood Insurance Program was set to elapse on Dec. 20.
The FDIC and OCC proposed Community Reinvestment Act reforms that will prevent banks from receiving credit for making mortgages to higher-income borrowers living in low-income areas.
In opening briefs before the Supreme Court, a California law firm and the CFPB argued the bureau’s structure is unconstitutional, but took opposing positions on how to remedy the situation.