In the News
The Federal Reserve Thinks Catastrophe Is Coming for US Businesses
As a financial journalist, I spend a lot of time seeing what people well smarter than me have to say about money, markets, and the economy. One report, written by...
A Return To “Normal” Debt – Financially Vulnerable Left Behind
The economy has been through the wringer for the past few years. Skyrocketing inflation in the wake of the COVID-19 pandemic brought with it a series of rapid rate rises...
June 30: CFPB Updates This Week
PUBLISHED JUN 29, 2023 The CFPB’s 2022 Fair Lending Annual Report to Congress The CFPB released its Fair Lending Annual Report to Congress , describing our fair lending activities in enforcement and...
June 22, 2023: NCUA Board Meeting Summary
June 22, 2023 — The NCUA Board meeting agenda consisted of three items for consideration, including a request for comment regarding NCUA’s Operating Fee Schedule Methodology, a board briefing regarding new...
Proposed Legislation in Response to Recent Bank Failures Introduced
U.S. House of Representatives Committee on Financial Services Proposed Legislation in Response to Recent Bank Failures Introduced June 21, 2023 – Several bills to respond to the recent failures of Silicon...
June 23: CFPB Updates This Week
June 28th Webinar CFPB RegCast: Institutional Coverage under the Small Business Lending Rule Wednesday, June 28, 2023, 11:00 AM – 12:00 PM EST Bureau staff will provide information to help...
June 16: CFPB Updates This Week
The CFPB intends to identify ways to simplify and streamline the existing mortgage servicing rules By Rohit Chopra Borrowing to buy a home is one of the biggest financial decisions...
NCUA Releases Q1 2023 State-Level Credit Union Data Report
For federally insured credit unions, median asset growth and growth in shares and deposits declined slightly over the year ending in the first quarter of 2023. At the same time,...
U.S. House of Representatives Presses FinCEN on Status of CTA Roll-Out
The Corporate Transparency Act (“CTA”) takes effect on January 1, 2024. On that date, the Financial Crimes Enforcement Network (“FinCEN”) needs to have implemented a working data base to accept...
OPINION: The Overdraft Landscape Is in Transition
One of my biggest pet peeves in all of finance is the overdraft fee. I first wrote in 2019 that we were moving to a world of no overdraft fees. This was...
Pennsylvania Lender To Pay More Than $3M in DOJ Redlining Settlement
Dive Brief: Stroudsburg, Pennsylvania-based ESSA Bank & Trust will pay more than $3 million to settle redlining allegations, the Justice Department announced Wednesday. The bank, between 2017 and 2021, “failed to provide mortgage...
June 9: CFPB Updates This Week
PUBLISHED JUN 08, 2023 Agencies Propose Interagency Guidance on Reconsiderations of Value for Residential Real Estate Valuations Five federal regulatory agencies today requested public comment on proposed guidance addressing reconsiderations of...