CFPB: Latest List of Consumer Reporting Companies Available
You may know that your credit record affects your ability to get an affordable loan, a job, an apartment, or many other essentials of daily life. But, do you know where and how to actually request your credit report and what you can do once you order your consumer reports? Over the past few years,…
ABA Report Shows Credit Card Market Continued to Expand in Third Quarter
The credit card market continued to expand in the third quarter of 2017 as monthly purchase volumes edged up across risk tiers, according to the American Bankers Association’s latest quarterly Credit Card Market Monitor. On an annual basis, purchase volumes rose 3.3 percent for prime accounts and 4.3 percent for super-prime accounts, but fell 3.9…
FHFA: Final Strategic Plan for FY 2018-2022 Released
The Federal Housing Finance Agency (FHFA) today released the FHFA Strategic Plan: Fiscal Years 2018-2022, which reflects the Agency’s priorities as regulator of the Federal Home Loan Banks (FHLBanks) and as regulator and conservator of Fannie Mae and Freddie Mac (the Enterprises). Last year FHFA requested input on the draft Agency strategic plan from Members…
OCC: Supporting Earned Income Tax Credit Awareness Day
The Office of the Comptroller of the Currency wants more eligible working families to benefit from the Earned Income Tax Credit (EITC) and is promoting EITC Awareness Day on January 26, 2018. “EITC Awareness Day is an important opportunity to educate the American public, and in particular, workers with and low and moderate incomes, about…
HUD and Census Bureau: New Residential Sales Report for December 2017
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential sales statistics for December 2017: New Home Sales Sales of new single-family houses in December 2017 were at a seasonally adjusted annual rate of 625,000. This is 9.3 percent (±11.0 percent) below the revised November…
HUD: Wholesale Review of Manufactured Housing Rules Announced
Public comment sought in effort to identify regulations that stifle affordable housing and job creation The U.S. Department of Housing and Urban Development (HUD) today announced a top-to-bottom review of its manufactured housing rules as part of a broader effort to identify regulations that may be ineffective, overly burdensome, or excessively costly given the critical…
FHFA: Index Shows Mortgage Rates Increased in December 2017
Nationally, interest rates on conventional purchase-money mortgages increased from November to December, according to several indices of new mortgage contracts. The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 4.08 percent for loans closed in late December, up 3 basis points from 4.05 percent in November….
Interagency Statement: Agencies to Give Favorable CRA Consideration to Revitalization Activities in Disaster Areas Affected by Hurricane Maria
OCC Statement FDIC Statement Federal Reserve Statement The federal bank regulatory agencies today announced they will give favorable consideration under Community Reinvestment Act (CRA) regulations to institutions that are located outside of the U.S. Virgin Islands and Puerto Rico, which were designated as major disaster areas in the aftermath of Hurricane Maria, for bank activities…
CFPB: Changes Finalized to Prepaid Account Rules
Changes Provide More Flexibility and Extend Effective Date to April 2019 The Consumer Financial Protection Bureau (Bureau) announced today that it has finalized updates to its 2016 prepaid rule. The Bureau’s 2016 prepaid rule put in place requirements for treatment of funds on lost or stolen cards, error resolution and investigation, upfront fee disclosures, access…