Lending

CFPB: Final Rule Issued to Close Overdraft Loophole to Save Americans Billions in Fees

Final rule to save up to $5 billion each year Today, the Consumer Financial Protection Bureau (CFPB) took actionto close an outdated overdraft loophole that exempted overdraft loans from lending laws. The agency’s final rule on overdraft fees applies to the banks and credit unions with more than $10 billion in assets that dominate the U.S….

HUD: Foreclosure Moratoriums Extended in Areas Devastated by Hurricanes Helene and Milton

Moratoriums on foreclosures will remain in effect through April 11, 2025, to provide more relief to affected borrowers with Federal Housing Administration-insured Single Family mortgages. Today, the U.S. Department of Housing and Urban Development’s (HUD) Federal Housing Administration (FHA) announced it is extending through April 11, 2025, its foreclosure moratoriums for FHA-insured Single Family Title II forward…

CDFI Fund: Public Comments Sought on the Small Dollar Loan Program Application

The U.S. Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on continuing information collections, as required by the Paperwork Reduction Act of 1995. Currently, the Community Development Financial Institutions Fund (CDFI Fund), U.S….

Agencies Issue Statement on Elder Financial Exploitation

Five federal financial regulatory agencies, the Financial Crimes Enforcement Network (FinCEN), and state financial regulators issued a statement  today to provide supervised institutions with examples of risk management and other practices that may be effective in combatting elder financial exploitation. Older adults who experience financial exploitation can lose their life savings and financial security and face other…

HUD: FHA 2025 Loan Limits Announced

New Federal Housing Administration loan limits for Single Family Title II forward and Home Equity Conversion Mortgages go up for calendar year 2025. Today, the U.S. Department of Housing and Urban Development’s (HUD) Federal Housing Administration (FHA) is announcing new loan limits for calendar year 2025 for its Single Family Title II forward and Home Equity Conversion Mortgage (HECM)…

FHFA: Conforming Loan Limit Values for 2025 Announced for Fannie Mae and Freddie Mac

The baseline CLL value of $806,500 for one-unit mortgages purchased by the Enterprises represents a 5.2 percent increase from 2024 The Federal Housing Finance Agency (FHFA) today announced the conforming loan limit values (CLLs) for mortgages acquired by Fannie Mae and Freddie Mac (the Enterprises) in 2025.  In most of the United States, the 2025…

FHFA: Enterprises’ Three-Year Plans Unveiled to Improve Housing Opportunities for the Underserved

Fannie Mae and Freddie Mac will expand their focus on rural communities among other activities outlined in blueprints aimed at advancing equitable housing access in markets and communities facing persistent challenges. Fannie Mae and Freddie Mac (the Enterprises) will seek to extend housing access in rural underserved markets, enhance their support for manufactured housing, and…

ABA: National Survey Finds Record Number of Bank Customers Use Mobile Apps More Than Any Other Channel to Manage Their Accounts

Results also show 96% of Americans think highly of their bank’s digital banking experience More than half of U.S. consumers are conducting their banking via mobile apps more often than any other method, according to a new survey conducted by Morning Consult on behalf of the American Bankers Association. The national survey found that consumers…

CFPB: Rule Finalized on Federal Oversight of Popular Digital Payment Apps to Protect Personal Data, Reduce Fraud, and Stop Illegal “Debanking”

Final rule brings supervision to Big Tech and other widely used digital payment apps handling over 50 million transactions annually The Consumer Financial Protection Bureau (CFPB) today finalized a rule to supervise the largest nonbank companies offering digital funds transfer and payment wallet apps. The rule will help the CFPB to ensure that these companies…

FHFA: Fannie Mae and Freddie Mac Expand Support for Rental Housing

The Federal Housing Finance Agency announced higher caps for 2025 that allow the Enterprises to purchase up to $146 billion in multifamily loans and will continue to exempt workforce housing from the limit The Federal Housing Finance Agency (FHFA) will allow greater rental housing support from Fannie Mae and Freddie Mac (the Enterprises) by raising…