CFPB: Fair Lending Priorities in the New Year
We recently marked the 40th anniversary of the Equal Credit Opportunity Act, a federal civil rights law that protects you from being discriminated against by lenders. As the holidays approach and we prepare for a new year, I wanted to let you know about key areas where the CFPB’s fair lending team will focus in…
CFPB: Consumer Credit Trends Tool Unveiled to Help Forecast Potential Consumer Risks
Web-based Tool Will Deliver Regular Updates on Consumer Lending Markets WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today unveiled Consumer Credit Trends, a web-based tool to help the public monitor developments in consumer lending and forecast potential future risks. The beta version of the tool covers the mortgage, credit card, auto loan, and student…
ABA: Bankers Invited to Join New Ag Banker Network
New online discussion forum for ag lenders WASHINGTON — As ag bankers continue to seek ways to help their producer clients work through difficult economic conditions in rural America, the American Bankers Association invites bankers to join their peers in the ABA Ag Bank Network. The network is an online forum, available only to ABA…
CDFI Fund: Application Period for FY 2017 Bond Guarantee Program Open
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) today opened the fiscal year (FY) 2017 application period for the CDFI Bond Guarantee Program. Application materials are available on the CDFI Fund’s website in anticipation of the publication of the Notice of Guarantee Authority (NOGA) in the Federal Register later this…
CFPB: Who Are the Credit Invisible?
In 2015, we published a report finding that 26 million Americans are “credit invisible.” This figure indicates that one in every ten adults does not have any credit history with one of the three nationwide credit reporting companies. The report also found that Black consumers, Hispanic consumers, and consumers in low-income neighborhoods are more likely to have…
ABA: ABA Sues NCUA Over Credit Union Field of Membership Rule
WASHINGTON — The American Bankers Association has filed a lawsuit against the National Credit Union Administration after the regulator finalized a rule that would unlawfully expand fields of membership for credit unions. The lawsuit, filed today in the United States District Court for the District of Columbia, will seek to overturn the NCUA rule. The rule disregards…
OCC: First Quarter 2017 CRA Evaluation Schedule Issued
WASHINGTON — The Office of the Comptroller of the Currency (OCC) today released its schedule of Community Reinvestment Act (CRA) evaluations to be conducted in the first quarter of 2017. The OCC encourages public comment on the national banks and federal savings associations scheduled to be evaluated under the CRA, and suggests that comments be…
OCC: OCC to Consider FinTech Charter Applications, Seek Comment
WASHINGTON — Comptroller of the Currency Thomas J. Curry today announced that the Office of the Comptroller of the Currency (OCC) would move forward with considering applications from financial technology (fintech) companies to become special purpose national banks. During remarks at the Georgetown University Law Center, the Comptroller described several reasons for considering special purpose…
CFPB: Some People Make Experience Refund Delays This Tax Season
Many people anticipate their tax refund to help cushion holiday expenses, pay essential bills, or build savings. Everyone can begin filing their taxes when tax season begins. However, if you’re claiming the Earned Income Tax Credit or Additional Child Tax Credit , due to a new law , you won’t receive your refund until after February 15, 2017. You can learn…