ABA: Survey Finds that 53% of Banks are Satisfied with Their Core Platform Provider
Despite low satisfaction only 1-in-5 expect to switch providers A new American Bankers Association survey of banks and core platform providers released at ABA’s 2025 Conference for Community Bankers finds that just over half (53%) of bankers are “extremely” or “somewhat” satisfied with their core platform provider, the critical outside vendors that typically provide the technology backbone…
CFPB: List of Consumer Reporting Companies Updated
2025 report tells consumers how to get a security freeze and block access to their credit reporting data Today, the Consumer Financial Protection Bureau (CFPB) released its annual list of consumer reporting companies. The list identifies dozens of specialty reporting companies that collect and sell access to people’s data, including individuals’ finances, employment, check writing…
Census Bureau: Updated Estimates from the National Experimental Well-Being Statistics Project Released
Today the U.S. Census Bureau released new findings from its National Experimental Well-Being Statistics (NEWS) project. NEWS is a research-driven project to improve how the Census Bureau measures income and poverty. NEWS does this by exploring new methods for creating these economic “well-being” indicators by looking back at data collections from previous years, using a wider range…
CFPB: New Report Finds Servicemembers Pay More in Auto Lending Market
Military borrowers face larger loans, higher interest rates, and more costly add-on products Today, the Consumer Financial Protection Bureau (CFPB) published a report showing that United States servicemembers pay higher costs and face greater financial risks than civilian borrowers when taking out credit to buy a car. The report analyzes more than 20 million auto…
FHFA: House Price Index Up 0.3 Percent in November 2024; Up 4.2 Percent from Previous Year
U.S. house prices rose 0.3 percent in November, according to the Federal Housing Finance Agency (FHFA) seasonally adjusted monthly House Price Index (HPI®). House prices rose 4.2 percent from November 2023 to November 2024. The previously reported 0.4 percent price growth in October was revised upward to 0.5 percent. However, in a repeat of previous HPI updates, price growth…
CFPB: Two Reports Find Continued Challenges for Households That Rent
Late payments decreased overall, but data reveal growing balances and increasing fees Today, the Consumer Financial Protection Bureau (CFPB) released two reports looking at national rental payment data from September 2021 to November 2024. The percentage of renters who paid late fees in the last year reached 23% in February 2023. While the rate declined…
CFPB: Report Finds Cash-Out Mortgage Refinance Borrowers Improve Credit Scores
Cash-out borrowers paid down credit card debt and auto loans Today, the Consumer Financial Protection Bureau (CFPB) published a report about financial outcomes for cash-out refinance mortgage borrowers. Cash-out borrowers had an initial sharp improvement in credit scores, followed by a gradually worsening of their scores. Scores in general, however, stayed above their pre-refinance levels….
CFPB: New Report Finds More Vehicles Eligible for Repossession than Pre-Pandemic
Today, the Consumer Financial Protection Bureau (CFPB) published a report showing that the rate of auto repossessions at the end of 2022 surpassed pre-pandemic levels. Additionally, lenders were increasingly more likely to use third parties, called forwarders, to manage the repossession process. The use of a third party generally increases consumer costs. The CFPB analyzed…
SBA: New Report Shows Consequential Impacts of SBA Pandemic Relief
Pandemic Relief Prevented Business Closures, Protected Jobs, and Led to Job Creation Today, Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA) and voice in President Biden’s Cabinet for America’s more than 34 million small businesses, issued the following statement on a new report highlighting the positive impact of SBA pandemic relief programs – including the Paycheck…
Census Bureau: New Veteran Employment Outcomes Data Released
The U.S. Census Bureau today released an expanded version of Veteran Employment Outcomes (VEO), an experimental data product showing earnings and employment outcomes for veterans of the U.S. armed forces. Launched in 2020, VEO initially covered labor market outcomes for U.S. Army veterans. The update expands VEO coverage to also include data on Navy, Air Force,…