Federal Reserve: Speech | Strengthening the Community Reinvestment Act: What Are We Learning?
Strengthening the Community Reinvestment Act: What Are We Learning? Governor Lael Brainard At “Research Symposium on the Community Reinvestment Act” hosted by the Federal Reserve Bank of Philadelphia, Philadelphia, Pennsylvania Thank you all for participating in our Research Symposium on the Community Reinvestment Act (CRA). I am happy to have an opportunity to learn from…
Federal Reserve: FEDS Notes | Are Disappearing Employer Pensions Contributing to Rising Wealth Inequality?
Are Disappearing Employer Pensions Contributing to Rising Wealth Inequality? John Sabelhaus and Alice Henriques Volz* The share of U.S. workers covered by a traditional employer-sponsored pension plan has declined dramatically over the past few decades. Fewer jobs today have any form of employer-sponsored retirement plan coverage, and those jobs that do have coverage are much…
CFPB: Latest List of Consumer Reporting Companies Published
You may know that your credit record affects your ability to get an affordable loan, a job, an apartment, or many other essentials of daily life. But, do you know where and how to actually request your credit report and what you can do once you order your consumer reports? Over the past few years,…
ABA: Report Shows Credit Card Market Expands Further in Third Quarter as the Economy Sustains Robust Growth
Credit card use continued to increase in the third quarter of 2018, according to the American Bankers Association’s latest quarterly Credit Card Market Monitor. Compared to the previous quarter, purchase volumes increased for both subprime and super-prime accounts, but moderated for prime accounts. On an annual basis, monthly purchase volumes rose across risk tiers, led…
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…
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: Assessments of Ability-to-Repay and Mortgage Servicing Rule Published
The Consumer Financial Protection Bureau (Bureau) today published a report under section 1022(d) of the Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) assessing the effectiveness of the Bureau’s Ability to Repay and Qualified Mortgage Rule and a separate report assessing the effectiveness of the Bureau’s mortgage servicing rule issued under the Real Estate…