CFPB: New Registry to Detect Repeat Non-Bank Financial Firm Offenders Proposed
Registry of company and court order information will help the agency identify and mitigate risks to American households Today, the Consumer Financial Protection Bureau (CFPB) proposed requiring certain nonbank financial firms to register with the CFPB when they become subject to certain local, state, or federal consumer financial protection agency or court orders. The CFPB…
Census Bureau: Household Pulse Survey Phase 3.7 Begins
The U.S. Census Bureau today announced the beginning of data collection for phase 3.7 of the experimental Household Pulse Survey (HPS). The HPS is an effort by the Census Bureau and other federal statistical agencies to provide near real-time data on how the COVID-19 pandemic, and changes in social and economic conditions are affecting people’s lives to…
HUD: Deputy Secretary Celebrates Seattle Exceeding House America Goals
Federal, city, and county partnership to House America is addressing homelessness with a Housing First approach U.S. Department of Housing and Urban Development (HUD) Deputy Secretary Adrianne Todman and U.S. Congresswoman Pramila Jayapal joined Seattle Mayor Bruce Harrell, King County Regional Homelessness Authority CEO Marc Dones, and other officials and housing advocates to mark significant progress in…
Census Bureau: More Than 19 Million Renters Burdened by Housing Costs
Over 40% (19 million) of renter households in the country spent more than 30% of their income on housing costs during the 2017-2021 period, according to new American Community Survey (ACS) 5-year estimates released today by the U.S. Census Bureau. Households spending more than 30% on housing costs, including rent or mortgage payments, utilities, and…
HUD: Improvements Announced to the Climate-Forward Housing Program
Rate Reduction Incentive Program Enhancements to Encourage Public Housing Agency Participation Today, the U.S. Department of Housing and Urban Development (HUD) is announcing updated guidance on the use and eligibility of the Rate Reduction Incentive (RRI). The RRI serves as a climate-friendly incentive program available to Public Housing Agencies (PHA) that encourages them to reduce their utility…
OCC: New Report Highlights Key Risks Facing Federal Banking System
The Office of the Comptroller of the Currency (OCC) today reported the key issues facing the federal banking system in its Semiannual Risk Perspective for Fall 2022. Economic growth slowed sharply in 2022, while high employment rates supported consumer spending and overall bank performance. Banks, in aggregate, remain well capitalized and with ample liquidity and sound…
CFPB: Research Finds Members of Reserves and National Guard Paying Millions of Dollars in Extra Interest Each Year
Companies can take steps to better respect military borrower rights and ease financial burdens, particularly in higher interest rate environment Today, the Consumer Financial Protection Bureau (CFPB) released research revealing that Reserve and National Guard members called to active duty are paying an extra $9 million in interest every year because they are not always…
HUD: Policy Development & Research to Hold Quarterly Meeting to Discuss the Effects of Institutional Investors in the Housing Market
HUD Secretary Marcia Fudge Delivers Opening Remarks Today, December 6, 2022, the U.S. Department of Housing and Urban Development (HUD) Office of Policy Development & Research (PD&R) will hold its quarterly update meeting to discuss the issues around institutional investors and their impact on housing markets across the United States. The event will include pre-recorded…
SBA: Second Annual Innovation Ecosystem Summit Announced
SBA Convening Entrepreneurship Ecosystem Leaders for Virtual Summit Aimed at Advancing Science and Technology to Support Startups and Innovative Small Businesses Today, the U.S. Small Business Administration (SBA) announces the second annual Innovation Ecosystem Summit for entrepreneur support organizations (ESOs) to gather virtually on December 6-7. The free event is curated for those who work with and support entrepreneurs from…
ABA: Research Finds Credit Card Market Remained Strong but Softened Slightly in Second Quarter of 2022
Consumers continued to manage their credit well despite economic headwinds in the second quarter of 2022, according to the American Bankers Association’s latest Credit Card Market Monitor. The report found that credit card credit outstanding as a share of disposable income remained well below pre-pandemic levels in the second quarter while inflation-adjusted monthly credit card…