Census Bureau: Household Pulse Survey Phase 3.9 Monthly Data Released
The U.S. Census Bureau today released new data from phase 3.9 of the experimental Household Pulse Survey (HPS). The HPS is an effort by the Census Bureau and other federal statistical agencies to inform federal and state response and recovery planning by providing near real-time data on the social and economic effects of the COVID-19 pandemic and…
SBA: Report Released on Anti-Fraud Control Measures in Pandemic Relief Programs including PPP and EIDL Loans
Eighty-six percent of fraud in small business pandemic relief programs occurred in first nine months of pandemic according to findings in new agency report The U.S. Small Business Administration (SBA) today released a report detailing analysis of anti-fraud protocols put in place by the Biden-Harris Administration in SBA’s four largest pandemic programs. The report “Protecting the Integrity…
FHFA: House Price Index Up 0.7 Percent in April 2023; Up 3.1 Percent from Last Year
U.S. house prices rose in April, up 0.7 percent from March, according to the Federal Housing Finance Agency (FHFA) seasonally adjusted monthly House Price Index (HPI®). House prices rose 3.1 percent from April 2022 to April 2023. The previously reported 0.6 percent increase in March was revised downward to 0.5 percent. For the nine census divisions, seasonally adjusted monthly…
OCC: Improvement in Mortgage Performance for First Quarter 2023 Reported
The Office of the Comptroller of the Currency (OCC) reported an improvement in the performance of first-lien mortgages in the federal banking system during the first quarter of 2023 compared to the previous quarter. The OCC Mortgage Metrics Report, First Quarter 2023 showed that 97.6 percent of mortgages included in the report were current and performing at…
FHFA: First Quarter 2023 Foreclosure Prevention and Refinance Report Released
The Federal Housing Finance Agency (FHFA) today released its first quarter 2023 Foreclosure Prevention and Refinance Report. The report shows that Fannie Mae and Freddie Mac (the Enterprises) completed 58,268 foreclosure prevention actions during the quarter, raising the total number of homeowners who have been helped to 6,771,101 since the start of conservatorships in September…
CFPB: Report Released on Banking Access and Consumer Finance in Southern States
Reports highlight gaps and identify opportunities to improve financial outcomes for many Southerners The Consumer Financial Protection Bureau (CFPB) today issued two new reports on the financial opportunities and challenges facing Southern communities. The Southern U.S. is home to diverse populations, including many rural areas. Many areas of the Southern region are considered “banking deserts”…
CFPB: New Report Identifies Issues with Increased Servicemember Use of Digital Payment Apps
Annual report also highlights other financial challenges facing the military community Today, the Consumer Financial Protection Bureau (CFPB) released its annual report on the top financial concerns facing military families. The report highlights the growth of digital payment app usage in the servicemember community, the unique risks to servicemembers from these services, and the potential…
CDFI Fund: Sources Sought Notice Issued for the CDFI Rapid Response Program, CDFI Equitable Recovery Program and Emergency Capital Investment Program
On June 15, 2023, the Community Development Financial Institutions Fund (CDFI Fund) released a Sources Sought Notice for a multi-year evaluation of the CDFI Fund’s CDFI Rapid Response Program (CDFI RRP), CDFI Equitable Recovery Program (CDFI ERP), and the U.S. Department of the Treasury’s (Treasury) Emergency Capital Investment Program (ECIP). Industry and subject-matter experts are…
ABA: Bank Economists Expect Credit Conditions to Soften in the Second Half of the Year
The latest summary of ABA’s Credit Conditions Index examines a suite of indices derived from the quarterly outlook for credit markets produced by ABA’s Economic Advisory Committee (EAC). The EAC includes chief economists from North America’s largest banks. Readings above 50 indicate that, on net, bank economists expect business and household credit conditions to improve, while readings…
FHFA: 2022 Report to Congress Issued
The Federal Housing Finance Agency (FHFA) today released its 2022 Report to Congress. The statutorily required report provides information about FHFA’s 2022 examinations of Fannie Mae, Freddie Mac (the Enterprises), Common Securitization Solutions (CSS), the 11 Federal Home Loan Banks (FHLBanks), and the FHLBanks’ Office of Finance. It also describes FHFA’s actions as conservator of the…