In the News
CFPB Issues Guidance to Root Out Tactics Which Charge People Fees for Subscriptions They Don’t Want
New circular addresses dark patterns and other tricks used by companies to confuse and deceive consumers enrolled in subscription services. The Consumer Financial Protection Bureau (CFPB) issued a new circular...
Seven Things to Know About the Debt Limit
Courtesy of Leonard Burman and William G. Gale, Brookings Institute There is a legal maximum on how much debt the federal government can accumulate—often called the “debt ceiling” or the...
Jan. 13: CFPB Updates This Week
PUBLISHED JAN 11, 2023 CFPB Proposes Rule to Establish Public Registry of Terms and Conditions in Form Contracts That Claim to Waive or Limit Consumer Rights and Protections Companies can...
Report: The Financialization of Recession Response
Courtesy of Aaron Klein, Brookings Institute This paper analyzes economic policy responses to the COVID-19-induced recession, focusing on the American policy response. Despite widespread political distrust between the two parties...
Fed Governor Michelle W. Bowman’s Speech on the Economy and Bank Supervision
Governor Bowman presented identical remarks to the Florida Bankers Association Leadership Luncheon Events, Tampa, Florida, on January 11, 2023. Thank you, Bill, and I’d also like to thank Alex Sanchez...
Jan. 6: CFPB Updates This Week
CFPB Issues Report on TransUnion, Experian, and Equifax Read the Annual report of credit and consumer reporting complaints: An analysis of complaint responses by Equifax, Experian, and TransUnion . Jan. 03, 2023...
New FHFA Credit Score Rules Could Broaden Homeownership Access
Jan. 6, 2023 — A policy requiring mortgage lenders to incorporate different credit scoring models should result in a more inclusive pool of borrowers. In October 2022, the Federal Housing Finance...
The Future of Fintech: What Does 2023 Hold for the Ever-Changing Industry
Jan. 6, 2023 — The past year, as the fintech industry is acutely aware, has not been without its challenges. From the continued COVID-19 global pandemic to whispers of a...
CFPB Report Finds Household Financial Health is Declining after Several Years of Increased Savings
Annual survey of consumer financial health shows downtrends in ability to repay debts The Consumer Financial Protection Bureau (CFPB) released a new Making Ends Meet report covering the financial health of...
Housing and Mortgage Markets Declined Significantly in 2022, Not Expected to Meaningfully Recover Until 2024
Authored by Fannie Mae December 19, 2022 — We have adjusted our 2022 economic growth expectations to 0.4 percent on a Q4/Q4 basis, up from 0.0 percent following both the...
Fed Actions on LIBOR
Federal Reserve Board adopts final rule that implements Adjustable Interest Rate (LIBOR) Act by identifying benchmark rates based on SOFR (Secured Overnight Financing Rate) that will replace LIBOR in certain...
U.S. State Privacy Laws in 2023: California, Colorado, Connecticut, Utah and Virginia
In 2023, new consumer privacy laws will be effective in California, Colorado, Connecticut, Utah, and Virginia. These laws will come online throughout the year as follows: Virginia’s law is effective...