CFPB: 2025 Private Education Ombudsman Report on Complaints Released
The 2025 Private Education Loan Ombudsman Annual report analyzes complaints from the prior award year (July 1, 2024 through June 30, 2025) and notes an increase in untimely responses to complaints, as well as an increase in complaints referencing fraud or scams. The report’s recommendations include coordinating inter-agency efforts to target frauds and scammers, inter-agency…
SBA: On One-Year Anniversary of California Wildfires, SBA Extends Disaster Relief Deadlines
Today, on the one-year anniversary of the Los Angeles County wildfires, the U.S. Small Business Administration (SBA) announced it is once again extending disaster relief deadlines for survivors amid state and local permitting delays that have prevented rebuilding for thousands of residents. This action will allow homeowners and business owners to draw down their approved SBA loan…
HUD: FHA Fulfilled Core Mission in Fiscal Year 2025
Mutual Mortgage Insurance (MMI) Fund Report Highlights Solid Financial Performance, Supporting Homeownership for More Than 876,000 Americans The Department of Housing and Urban Development’s (HUD) Federal Housing Administration (FHA) released its fiscal year (FY) 2025 annual reportcovering the financial status of the FHA Mutual Mortgage Insurance (MMI) Fund and its Single Family mortgage insurance programs. FHA…
FDIC: Additional Transparency Provided Regarding Marketing and Sale of Failing Financial Institutions
The Federal Deposit Insurance Corporation (FDIC) has enhanced its public website to increase transparency into the marketing and sale process of failing financial institutions and has posted templates of contractual agreements for transactions to facilitate review in advance of any acquisition opportunities. The information can be found in the Resolutions section of the website at Failing Bank Resolutions | FDIC.gov. …
CFPB: Annual Report of Consumer and Credit Reporting Complaints Issued
An analysis of complaint responses by Equifax, Experian, TransUnion Pursuant to Section 611(e)(5) of the Fair Credit Reporting Act (FCRA), this report summarizes information gathered by the Consumer Financial Protection Bureau (CFPB) regarding certain consumer complaints transmitted by the CFPB to Equifax, Experian, and TransUnion. FULL REPORT Read the full report
CFPB: 2025 College Credit Card Agreements Report Issued
The Credit Card Accountability, Responsibility, and Disclosure Act (“CARD Act” or “Act”) requires the Consumer Financial Protection Bureau (the “Bureau”) to submit to Congress, and to make available to the public, an annual report that lists information submitted to the Bureau concerning agreements between credit card issuers and institutions of higher education or certain organizations…
CFPB: Seventh Biennial Review of Consumer Credit Card Market Report Issued
This report represents the CFPB’s seventh biennial review of the consumer credit card market as directed by the Credit Card Accountability Responsibility and Disclosure Act of 2009. In this report, we analyze data from several sources to examine many aspects of the consumer credit card market as of the end of 2024. We revisit topics…
OCC: Two Proposals Issued on Preemption of State Interest-on-Escrow Laws
The Office of the Comptroller of the Currency (OCC) today requested comment on two proposals on national banks’ and federal savings associations’ real estate lending powers related to the payment of interest on funds held in escrow accounts. The OCC’s actions emphasize federal preemption as a critical tool for reducing unnecessary burden, enabling local and…
SBA: First MARC Loans Delivered to Support Manufacturers
$3.5 Million in New Capital will Supercharge Reindustrialization Today, the U.S. Small Business Administration (SBA) announced it has approved its first round of 7(a) Manufacturers’ Access to Revolving Credit (MARC) Loans – already delivering $3.5 million in working capital to four manufacturers. The loan program, launched just prior to the federal shutdown, is the first-ever SBA loan offering dedicated…
ICBA: ICBA Opposes PayPal Application to Form Industrial Loan Company
The Independent Community Bankers of America (ICBA) today expressed strong opposition to PayPal’s application opens in a new tab to form an industrial loan company—a type of financial institution that receives federal deposit insurance while avoiding full regulatory oversight. “The FDIC should deny ILC applications from PayPal and other Big Tech companies and not allow these nonbank firms to benefit from the federal safety net while avoiding prudential regulation…