ABA: Finxact, an Emerging Core Banking Technology Provider, Receives Investment from ABA
Investment Reflects ABA Member Interest in More Flexible Core Platforms The American Bankers Association today announced a direct investment in Finxact, an emerging technology company that offers an innovative, open core banking platform for financial institutions. The investment in Finxact reflects ABA’s commitment to ensuring that member banks have the technology and tools they need…
FHFA: Indices Show Little Movement in Mortgage Interest Rates in December 2018
Nationally, interest rates on conventional purchase-money mortgages were nearly flat from November to December, according to several indices of new mortgage contracts. The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 4.83 percent for loans closed in late December, down 3 basis points from 4.86 percent…
CFPB: Bureau Releases Sixth Annual Report from the Office of Servicemember Affairs
I am pleased to offer the sixth annual report from the Office of Servicemember Affairs (OSA) highlighting issues and emerging trends facing servicemembers, veterans, and military families (collectively referred to as “servicemembers” in this report). The Consumer Financial Protection Bureau (CFPB) and the OSA are committed to ensuring that servicemembers have high levels of financial…
Census Bureau: New Study Examines Barriers, Attitudes and Motivators Toward 2020 Census
The U.S. Census Bureau released results today from the 2020 Census Barriers, Attitudes and Motivators Study (CBAMS). The national survey and series of focus groups were designed to better understand the nation’s attitudes toward the 2020 Census, potential barriers that may inhibit participation, and possible motivators of responding. The CBAMS research is the foundation for…
FHFA: House Price Index Up 0.4 Percent in November 2018
U.S. house prices rose in November, up 0.4 percent from the previous month, according to the Federal Housing Finance Agency (FHFA) seasonally adjusted monthly House Price Index (HPI). The previously reported 0.3 percent increase in October was revised to reflect a 0.4 percent increase. The FHFA monthly HPI is calculated using home sales price information…
CFPB: Bureau Asks Congress for Clear Authority to Supervise for Compliance with the Military Lending Act
Consumer Financial Protection Bureau Director Kathleen L. Kraninger today issued the following statement announcing that she has asked Congress to grant the CFPB clear authority to supervise for compliance with the Military Lending Act (MLA). “The Bureau is committed to the financial well-being of America’s service members. This commitment includes ensuring that lenders subject to…
Federal Reserve: FRB Launches Article Series on Financial Conditions and Concerns of Consumers and Communities
The Federal Reserve Board on Wednesday announced Consumer & Community Context, an article series that features original analysis about the financial conditions and experiences of consumers and communities, including traditionally underserved and economically vulnerable households and neighborhoods. The goal of the series is to increase public understanding of the financial conditions and concerns of consumers…
CFPB: Credit Score Myths that Might Be Holding You Back from Improving Your Credit
Improving your credit is possible, but it’s hard to know where to start. There’s a lot of misleading information out there, and these credit myths can get in the way of improving your credit score. Your credit score is important for determining things like whether you’ll be able to qualify for a loan or credit…
ABA: America’s 2 Million Bankers Encouraged to Register for ABA Foundation’s 2019 Financial Education Initiatives
ABA Foundation programs call for banker volunteers to join growing, industry-wide efforts designed to help local communities The American Bankers Association Foundation today launched its 2019 financial education registration campaign, calling on banker volunteers from across the country to register for a range of successful, industry-wide programs designed to enhance financial education in their local…
FEMA: Nearly $350 Million in Federal Grants and Loans Approved for California Wildfire Survivors
Over the two months since wildfires in two disparate regions of the state grew into deadly disasters of historic proportions, the Federal Emergency Management Agency (FEMA) and the U.S. Small Business Administration (SBA) have approved more than $347 million in grants and low-interest disaster loans to assist survivors in their recovery. The California Governor’s Office…