Rep. Maxine Waters, D-CA, chair of the House Financial Services Committee, asked financial institutions to make sure that shutdown-related arrangements don't end up harming consumers' credit reports, among other requests.
Kashkari cited data centers as an investment that appears to be offering stronger returns to investors rather than building homes or apartment buildings.
The proposal, if implemented, will largely benefit a subset of banks that don’t meet HMDA reporting requirements yet do receive at least 50 applications for mortgages per year.