ABA: 6 Questions Millennials Should Consider During American Housing Month
WASHINGTON — Millennials looking to make their next housing move face a tough decision – to rent as prices continue to soar but with the flexibility to come and go, or to commit to the world of homeownership and all of its demands while interest rates are near historic lows. In recognition of American Housing…
CDFI Fund: “Access to Capital and Credit in Native Communities” Report Released
NEW REPORT FOCUSES ON CHANGES OVER THE LAST 15 YEARS AND OPPORTUNITIES MOVING FORWARD May 23, 2016 A new independent report on access to capital and credit in American Indian, Alaska Native, and Native Hawaiian communities (Native Communities) was released today by the Native Nations Institute. The Access to Capital and Credit in Native Communities…
CFPB: Student Loan “Payback Playbook” Unveiled
WASHINGTON, D.C. — Today the Consumer Financial Protection Bureau (CFPB) unveiled the student loan Payback Playbook, a set of prototype disclosures that outline a path to affordable payments for borrowers trying to avoid student debt distress. The Payback Playbook provides borrowers with personalized information about their repayment options from loan servicers so they can secure a…
CFPB: Half of Online Payday Borrowers Rack Up an Average of $185 in Bank Penalties
Repeat Debit Attempts Add Steep, Hidden Cost for Borrowers Yet Typically Fail to Recover Payments WASHINGTON, D.C. — Today the Consumer Financial Protection Bureau (CFPB) issued a report that found that attempts by online lenders to debit payments from a consumer’s checking account add a steep, hidden cost to online payday loans. Half of online borrowers…
ABA: Foundation Invites Volunteers for 2015 “Get Smart About Credit” Day
Calling on banker volunteers to help their local teens become financially fit WASHINGTON — The American Bankers Association Foundation is calling for banker volunteers for its annual Get Smart About Creditprogram, an initiative designed to teach teens how to use credit effectively. Bankers will celebrate Get Smart About Credit Day on Oct. 15 and throughout the…