WASHINGTON – U.S. Sens. Cynthia Lummis (R-WY) and Kyrsten Sinema (D-AZ) have announced the launch of the U.S. Senate Financial Innovation Caucus today. They are being joined by Sens. John Hickenlooper (D-CO), Tim Scott (R-SC), Marsha Blackburn (R-TN), Mike Braun (R-IN) and Bill Cassidy (R-LA).
WASHINGTON–A new report from the CFPB says borrowers who take out mortgages on manufactured homes are paying higher interest rates and often have fewer opportunities to refinance.
NEW YORK—Nearly a third of college students say their families have been financially impacted by the COVID-19 pandemic, according to a new survey. As a result, 19% expect to take on more debt.
ALEXANDRIA, Va.–During recent testimony before a House committee NCUA Chairman Todd Harper pointed to losses of more than $300 million from CUSOs over a seven-year period as evidence the agency needs vendor oversight authority—but which CUSOs caused those losses? The agency isn’t providing details.
WASHINGTON–The nation’s FDIC-insured banks reported a net income increase of 29.1% during the first quarter of this year, primarily due to negative provisions for credit losses reflecting bad loans that never appeared, according to new data.
ALEXANDRIA, Va.–NCUA said it is “reviewing” an executive order from President Biden that directs federal agencies to launch or expand efforts to analyze and lessen economic risks stemming from climate change.
ARLINGTON, Va.—How big of an impact are climate-related events having on credit unions? So far, according to a new survey, very little, but CU leaders say they are monitoring the risk.
WASHINGTON—Both NAFCU and CUNA shared concerns about changes to credit reporting rules ahead of a House Financial Services subcommittee hearing on consumer credit reporting.
ARLINGTON, Va.—New home sales dipped 5.9% from March's downwardly revised rate of 917,000 annualized units to 863,000 units in April. Sales were up 51.4% versus April 2020, with reports of the tight housing market being reported in nearly all markets in the country.
WASHINGTON—A proposed Federal Reserve regulation could adversely impact credit unions by increasing regulatory burden, CUNA wrote to the Senate Banking, Housing, and Urban Affairs Committee. The committee heard semiannual testimony from Fed Vice Chair for Supervision Randal Quarles during a hearing this week.
