A coalition of Senate Democrats raises concerns over the FHFA's directive allowing unconverted crypto in mortgage assessments, citing potential risks to financial stability.
A coalition of Senate Democrats, including Jeff Merkley and Elizabeth Warren, has voiced concerns to FHFA Director William Pulte regarding the agency's order to consider unconverted cryptocurrency in mortgage underwriting. They warn that this could pose risks to consumers and the stability of the housing market, urging a detailed explanation by August 7. The senators highlighted crypto's volatility and potential scams as significant concerns, while proponents argue it supports mainstream crypto adoption.