FHFA: House Price Index Up 0.3 Percent in November 2024; Up 4.2 Percent from Previous Year
U.S. house prices rose 0.3 percent in November, according to the Federal Housing Finance Agency (FHFA) seasonally adjusted monthly House Price Index (HPI®). House prices rose 4.2 percent from November 2023 to November 2024. The previously reported 0.4 percent price growth in October was revised upward to 0.5 percent. However, in a repeat of previous HPI updates, price growth…
CFPB: Two Reports Find Continued Challenges for Households That Rent
Late payments decreased overall, but data reveal growing balances and increasing fees Today, the Consumer Financial Protection Bureau (CFPB) released two reports looking at national rental payment data from September 2021 to November 2024. The percentage of renters who paid late fees in the last year reached 23% in February 2023. While the rate declined…
CDFI Fund: Electronic Application Now Available for FY 2025 CDFI Program and NACA Program Applicants
The electronic Application for the fiscal year (FY) 2025 round of the Community Development Financial Institution Program (CDFI Program) and Native American CDFI Assistance Program (NACA Program) is now available in the Community Development Financial Institutions Fund’s (CDFI Fund’s) Awards Management Information System (AMIS). Reference copies of the NOFAs and all Application materials can be found…
CFPB: Report Finds Cash-Out Mortgage Refinance Borrowers Improve Credit Scores
Cash-out borrowers paid down credit card debt and auto loans Today, the Consumer Financial Protection Bureau (CFPB) published a report about financial outcomes for cash-out refinance mortgage borrowers. Cash-out borrowers had an initial sharp improvement in credit scores, followed by a gradually worsening of their scores. Scores in general, however, stayed above their pre-refinance levels….
CFPB: New Report Finds More Vehicles Eligible for Repossession than Pre-Pandemic
Today, the Consumer Financial Protection Bureau (CFPB) published a report showing that the rate of auto repossessions at the end of 2022 surpassed pre-pandemic levels. Additionally, lenders were increasingly more likely to use third parties, called forwarders, to manage the repossession process. The use of a third party generally increases consumer costs. The CFPB analyzed…
ABA: Foundation Launches 2025 Financial Education Campaigns Amid 100th Anniversary Celebration
The American Bankers Association Foundation today launched its 2025 financial education campaigns, encouraging banks across the country and their more than two million employees to participate in these substantial industry efforts. Today’s launch comes as the ABA Foundation celebrates a pivotal milestone this year – its 100th anniversary helping bankers provide financial education to improve…
ABA: Foundation and U.S. Postal Inspection Service Release New Infographics for Consumers and Businesses on Money Mules, Check Fraud
Identification and prevention tips part of ongoing awareness campaign to help individuals and small businesses avoid scams perpetrated through the U.S. mail The American Bankers Association Foundation and the United States Postal Inspection Service today released two new infographics on money mule scams and check fraud as part of their shared ongoing initiatives to protect…
FDIC: Statement from Acting Chairman Travis Hill
On January 20, 2025, Travis Hill became Acting Chairman of the Federal Deposit Insurance Corporation (FDIC). Acting Chairman Hill issued the following statement: “It is my honor and privilege to serve as Acting Chairman of the FDIC. While the FDIC faces a broad range of issues, and as always will fulfill our mandate to promote a…
ABA: Foundation Accepting Donations to Support L.A. Wildfire Relief Efforts in California
ABA to Contribute $25,000 As first responders continue to fight the devastating wildfires in Los Angeles County, the American Bankers Association Foundation today announced it will begin collecting tax-exempt contributions through its Disaster Relief Program to help aid in emergency relief efforts. At the request of the California Bankers Association, the ABA Foundation will immediately begin accepting…
SBA: New MySBA Digital Experience Outlined to Transform How Business Owners Interact with SBA
New MySBA Experience Builds on SBA’s Efforts to Transform Customers’ Experiences with the Agency via Innovative Digital Tools Today, Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice in President Biden’s Cabinet for America’s more than 34 million small businesses, is celebrating the culmination of the SBA’s efforts to transform customers’ experiences…