The Washington Post

Fannie Mae and Freddie Mac

-

are poised to get less stringent capital requiremen­ts, with their regulator planning a revamp of tough rules approved at the end of the Trump administra­tion. In a Wednesday statement, the Federal Housing Finance Agency said it’s proposing amendments to the November rules that would specifical­ly target what are called credit risk transfer securities — assets that transfer the risk of mortgages defaulting to private investors. Under the overhaul, Fannie and Freddie would get more capital relief when issuing such securities. The Trump-era rules required Fannie and Freddie to hold hundreds of billions of dollars to protect against losses. The housing industry criticized the regulation­s, arguing they were excessive and would lead to higher mortgage costs. Waymo, the autonomous-vehicle unit owned by Google parent Alphabet, is taking more office space in San Francisco. The company is subleasing more than 48,000 square feet at 555 Market St. in the city’s financial district from Uber Technologi­es. In August, the company began opening taxi services to select passengers in San Francisco, but those rides will include a safety driver at the wheel.

Commercial casinos earned $4.83 billion in July after paying out winnings, according to the latest data from the American Gaming Associatio­n. It was also the fifth consecutiv­e month of double-digit revenue growth over the same period in 2019, and the year’s total through July, $29.6 billion, almost matches the entire intake for 2020. The totals from the AGA represent gambling in the 25 states with commercial casinos and don’t include revenue from Native American tribal operations.

Newspapers in English

Newspapers from United States