OCC: Supporting America Saves Week
WASHINGTON — Comptroller of the Currency Thomas J. Curry today released the following statement in recognition of America Saves Week, February 27 – March 4, 2017: The Office of the Comptroller of the Currency supports America Saves Week to highlight the importance of building regular savings to meet future needs, achieve a level of financial…
HUD: New Residential Sales in January 2017 Announced
WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau today jointly announced the following new residential sales statistics for January 2017: NEW HOME SALES Sales of new single-family houses in January 2017 were at a seasonally adjusted annual rate of 555,000. This is 3.7 percent (±18.5 percent)* above…
FDIC: Consumers Encouraged to Save Automatically to Achieve Financial Goals
The Federal Deposit Insurance Corporation (FDIC) encourages consumers to commemorate America Saves Week by taking advantage of automatic savings to achieve financial goals. Over time, small automatic deposits into a retirement or savings account can add up with compounded interest, helping consumers cover unexpected expenses and build wealth. FDIC Chairman Martin J. Gruenberg said: “During…
CDFI Fund: FY 2017 Funding Round for CDFI Program and NACA Program Opens
Today, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) opened the fiscal year (FY) 2017 funding round for the Community Development Financial Institutions Program (CDFI Program) and Native American CDFI Assistance Program (NACA Program). The CDFI Fund plans to award $190.5 million in FY 2017 in Financial Assistance (FA) and…
FHFA: US House Prices Rise 1.5 Percent in Fourth Quarter
Washington, D.C. – U.S. house prices rose 1.5 percent in the fourth quarter of 2016 according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI). House prices rose 6.2 percent from the fourth quarter of 2015 to the fourth quarter of 2016. FHFA’s seasonally adjusted monthly index for December was up 0.4 percent…
CDFI Fund: FY 2016 Funding Round of BEA Program Opens
Today the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) opened the fiscal year (FY) 2016 application round for the Bank Enterprise Award Program (BEA Program). Application materials are now available on the BEA Program page of the CDFI Fund’s website in anticipation of the February 24, 2017 publication of the…
CFPB: Using alternative data to evaluate creditworthiness
Without credit, it is nearly impossible to buy a home or start a business. People face barriers to accessing credit or have to pay more for credit for several reasons. Some people have negative items, such as a record of late payments, on their credit report. Other people have trouble documenting their income. Still others…
CFPB: Bureau Explores Impact of Alternative Data on Credit Access for Consumers Who Are Credit Invisible
CFPB Seeks Public Feedback on Benefits, Risks of Using Unconventional Sources to Extend Affordable Credit to Consumers Lacking Credit History WASHINGTON, D.C. – The Consumer Financial Protection Bureau today launched an inquiry into ways to expand access to credit for consumers who are credit invisible or who lack enough credit history to obtain a credit score….
ABA: 6 Ways to Use Your Tax Refund Wisely
Average U.S. taxpayer receives nearly $3,000 refund WASHINGTON — According to the Internal Revenue Service, the nation’s taxpayers received an average tax refund of nearly $3,000 in 2016 and will receive a similar amount this year. With more than 70 percent of tax payers receiving a refund this year, the American Bankers Association has highlighted…
HUD: New Residential Construction Activity in January Released
WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) and the Census Bureau jointly announced the following new residential construction statistics for January 2017: BUILDING PERMITS Privately-owned housing units authorized by building permits in January were at a seasonally adjusted annual rate of 1,285,000. This is 4.6 percent (±2.0 percent) above the revised…