Federal Reserve: College Fed Challenge Winners Announced
Princeton University won the 19th annual national College Fed Challenge on Friday, a team competition that encourages undergraduate students to learn about the U.S. economy, monetary policymaking, and the role of the Federal Reserve System. Teams analyze economic and financial conditions and formulate a monetary policy recommendation, modeling the Federal Open Market Committee. The team, from Princeton,…
SBA: Administrator Guzman Calls on Americans to “Shop Small” on Small Business Saturday Across America
Today, Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice in President Biden’s Cabinet for America’s 33 million small businesses, calls on Americans to “Shop Small” throughout this holiday season and on Small Business Saturday, which falls on November 26. “As our economy continues to stabilize, it’s more important than ever that…
CFPB: Supervisory Examinations Find Credit Reporting Failures, Junk Fees and Mishandling of COVID-19 Protections
Agency examiners find legal violations across consumer financial products and services Today, the Consumer Financial Protection Bureau (CFPB) released a new Supervisory Highlights report on legal violations identified during the CFPB’s supervisory examinations in the first half of 2022. The report details key findings across consumer financial products and services, including how consumer reporting companies…
FHFA: FY 2022 Performance and Accountability Report Released
The Federal Housing Finance Agency (FHFA) today released its annual Performance and Accountability Report, which details FHFA’s activities as regulator of the Federal Home Loan Bank System and as regulator and conservator of Fannie Mae and Freddie Mac during fiscal year 2022. For the fourteenth consecutive year, FHFA received an unmodified audit opinion on its…
FHFA: 2023 Multifamily Loan Purchase Caps for Fannie Mae and Freddie Mac Announced
The Federal Housing Finance Agency (FHFA) announced today that the 2023 multifamily loan purchase caps for Fannie Mae and Freddie Mac (the Enterprises) will be $75 billion for each Enterprise, for a combined total of $150 billion to support the multifamily market. The 2023 caps reflect an anticipated contraction of the multifamily originations market in…
CFPB: New Bulletin Published Analyzing Rise in Crypto-Asset Complaints
“Pig butchering” and other scams lead list of crypto-asset complaints Today, the Consumer Financial Protection Bureau (CFPB) released a new complaint bulletin that highlights complaints the CFPB received related to crypto-assets. Consumers most commonly reported being victimized by frauds, theft, account hacks, and scams. Consumers also had issues with executing transactions and transferring assets between exchanges. Many…
CFPB: New Guidance Issued to Address Investigation Practices by Consumer Reporting Agencies
When consumer reporting companies and furnishers fail to investigate disputed information, consumers are left paying higher interest rates and face greater difficulty finding housing, employment Today, the Consumer Financial Protection Bureau (CFPB) issued a circular to affirm that neither consumer reporting companies nor information furnishers can skirt dispute investigation requirements. The circular outlines how federal…
HUD: Secretary Encourages Aspiring Homebuyers to “Stay Ready” During Virtual House Party
HUD Launches Dedicated Webpage to Connect People to Pathways to Homeownership U.S. Department of Housing and Urban Development (HUD) Secretary Marcia L. Fudge hosted the virtual event “House Party – Let’s Talk About the House” on Tuesday, November 1 to educate Millennials and Generation Z young adults about the government resources available to buy a…
CDFI Fund: Opportunity Open to Comment on the New CDFI Certification Application
In October, the Community Development Financial Institutions Fund (CDFI Fund) provided a preview of the revisions to the new CDFI Certification Application. The CDFI Fund published the preview in advance of the Office of Management and Budget (OMB) releasing the updated application for a final round of public comment. The revised CDFI Certification Application is now available…
SBA: New SBA Program Launched for Veteran Small Business Certification
New SBA program launch to include one-year extension for certified veteran-owned small businesses Today, during National Veterans Small Business Week (NVSBW), Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice in President Biden’s Cabinet for America’s 33 million small businesses, announced consequential updates to the planned launch of SBA’s new Veteran Small Business Certification Program—including…