Federal Reserve: 2016 Survey Of Consumer Finances Released
The 2016 Survey of Consumer Finances (SCF) is the most recent survey conducted. Below are links to the bulletin article, historical bulletin tables, full public dataset, extract dataset, replicate weight files, and documentation. How to get a notification of changes: If you would like to receive notification about additions to the web page and updates to…
Federal Reserve: FEDS Notes | Recent Trends In Wealth-Holding By Race and Ethnicity From The Survey Of Consumer Finances
Lisa J. Dettling, Joanne W. Hsu, Lindsay Jacobs, Kevin B. Moore, and Jeffrey P. Thompson with assistance from Elizabeth Llanes Newly released data from the Survey of Consumer Finances (SCF) show that wealth rose for families in all race and ethnicity groups between 2013 and 2016. The long-standing and substantial wealth disparities between families of…
Joint Release: Agencies Propose Amending CRA Regulations to Conform to HMDA Regulation Changes and Remove NSP References
The federal bank regulatory agencies today issued a joint notice of proposed rulemaking to amend their respective Community Reinvestment Act (CRA) regulations primarily to conform to changes made by the Consumer Financial Protection Bureau (CFPB) to Regulation C, which implements the Home Mortgage Disclosure Act (HMDA). Since 1995, the Board of Governors of the Federal…
Interagency Guidance: Statement on Supervisory Practices Regarding Financial Institutions and Borrowers Affected by Hurricane Irma
The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and state bank regulators recognize the serious impact of Hurricane Irma on the customers and operations of many financial institutions and will provide regulatory assistance to affected institutions subject to their supervision. The…
Federal Reserve: CRA Examination Schedule for Fourth Quarter 2017 and First Quarter 2018 Released
The Federal Reserve posts the schedules for two quarters of upcoming CRA examinations Fourth Quarter 2017 Boston Bank name City State BANK RHODE ISLAND PROVIDENCE RI BROOKLINE BK BROOKLINE MA New York Bank name City State None scheduled for this quarter. Philadelphia Bank name City State ORRSTOWN BK SHIPPENSBURG PA Cleveland Bank name City State…
Federal Reserve: Improving the 30-Year Fixed-Rate Mortgage
FEDS (Finance and Economics Discussion Series) 2017-90 | August 2017 Wayne Passmore and Alexander H. von Hafften Abstract: The 30-year fixed-rate fully amortizing mortgage (or “traditional fixed-rate mortgage”) was a substantial innovation when first developed during the Great Depression. However, it has three major flaws. First, because homeowner equity accumulates slowly during the first decade,…
Federal Reserve: Board Announces Community Depository Institutions Advisory Council Members for 2018
The Federal Reserve Board on Wednesday announced the members of its Community Depository Institutions Advisory Council (CDIAC) and the president and vice president of the council for 2018. CDIAC advises the Board on the economy, lending conditions, and other issues of interest to community depository institutions. Members are selected from representatives of commercial banks, thrift…
Interagency Guidance: Statement on Supervisory Practices Regarding Financial Institutions and Borrowers Affected by Hurricane Harvey
The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and state bank regulators recognize the serious impact of Hurricane Harvey on the customers and operations of many financial institutions and will provide regulatory assistance to affected institutions subject to their supervision. The…
Federal Reserve: Revised Interagency Home Mortgage Disclosure Act Sampling, Verification and Resubmission Procedures
The Task Force on Consumer Compliance of the Federal Financial Institutions Examination Council (FFIEC) recently developed the attached interagency Home Mortgage Disclosure Act (HMDA)1 Examiner Transaction Testing Guidelines that include sampling, verification, and resubmission procedures for use in connection with HMDA data collected beginning on January 1, 2018 pursuant to the Consumer Financial Protection Bureau’s…
CFPB: What you Need to Know about the New FFIEC HMDA Examiner Transaction Testing Guidelines
Today, the Federal Financial Institutions Examination Council (FFIEC) members announced new FFIEC Home Mortgage Disclosure Act (HMDA) Examiner Transaction Testing Guidelines (Guidelines) for all financial institutions that report HMDA data. The Guidelines will apply to the examination of HMDA data collected beginning in 2018 and reported beginning in 2019. The Guidelines will help ensure accurate…