CFPB: New Guidance Addresses Inaccurate Background Check Reports and Sloppy Credit File Sharing Practices
False, incomplete, and old information must not appear in background check reports, and a person’s complete consumer file must be provided to them upon request Today, the Consumer Financial Protection Bureau (CFPB) issued guidance to consumer reporting companies to address inaccurate background check reports, as well as sloppy credit file sharing practices. The two advisory…
Census Bureau: Household Pulse Survey Phase 4.0 Begins
The U.S. Census Bureau today announced the beginning of data collection for phase 4.0 of the experimental Household Pulse Survey (HPS). The HPS is an effort by the Census Bureau and other federal statistical agencies to measure how emergent issues are impacting U.S. households from a social and economic perspective. Topics for phase 4.0 include employment status,…
CFPB: Report Identifies Challenges Faced by Borrowers in Resumption of Student Loan Payments
CFPB oversight identifies long hold times, inaccurate billing statements, and processing delays The Consumer Financial Protection Bureau (CFPB) published an issue spotlight today on the CFPB’s oversight of student loan servicing practices in the early months of the resumption of federal student loan repayments after over three years of a payment pause due to the…
FHFA: House Price Index Up 0.3 Percent in October 2023; Up 6.3 Percent from Last Year
U.S. house prices rose in October, up 0.3 percent from September, according to the Federal Housing Finance Agency (FHFA) seasonally adjusted monthly House Price Index (HPI®). House prices rose 6.3 percent from October 2022 to October 2023. The previously reported 0.6 percent price increase in September was revised to a 0.7 percent increase. For the nine census divisions, seasonally…
HUD and Census Bureau: New Residential Sales Report for November 2023 Released
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential sales statistics for November 2023: New Home Sales Sales of new single‐family houses in November 2023 were at a seasonally adjusted annual rate of 590,000, according to estimates released jointly today by the U.S. Census…
FHFA: Third Quarter 2023 Foreclosure Prevention and Refinance Report Released
The Federal Housing Finance Agency (FHFA) today released its third quarter 2023 Foreclosure Prevention and Refinance Report. The report shows that Fannie Mae and Freddie Mac (the Enterprises) completed 43,356 foreclosure prevention actions during the quarter, raising the total number of homeowners who have been helped to 6,861,827 since the start of conservatorships in September…
Federal Bank Regulatory Agencies Release 2022 Small Business, Small Farm, and Community Development Lending Data
The federal bank regulatory agencies, as members of the Federal Financial Institutions Examination Council (FFIEC), today released data on small business, small farm, and community development lending during 2022. The Community Reinvestment Act regulations require the agencies to annually disclose these data. The FFIEC also prepared aggregate disclosure statements of small business and small farm…
CFPB: New Report Shows Many Americans Are Surprised by Overdraft Fees
New report finds many of these customers have cheaper credit options available The Consumer Financial Protection Bureau (CFPB) today issued a new report finding that many consumers are still being hit with unexpected overdraft and nonsufficient fund (NSF) fees, despite recent changes implemented by banks and credit unions that have eliminated billions of dollars in…
CFPB: New Report Finds Many College-Sponsored Financial Products Charge High and Unusual Fees
Annual student banking report highlights the steep costs and unfavorable terms of college-sponsored credit cards, deposit accounts, and other financial products The Consumer Financial Protection Bureau (CFPB) issued a reporttoday highlighting that many college-sponsored financial products have higher fees and worse terms and conditions compared to typical market products. The CFPB report identifies college-sponsored deposit accounts…
HUD: January 2023 Point-in-Time Count Report for Homelessness Released
The U.S. Department of Housing and Urban Development (HUD) today released its 2023 Annual Homeless Assessment Report: Part 1: Point-in-Time Estimates, an annual snapshot of the number of individuals in shelters, temporary housing, and in unsheltered settings. The report found more than 650,000 people were experiencing homelessness on a single night in January 2023, a 12%…