WASHINGTON—The Federal Trade Commission is sending more than 30,000 checks to people were the victims of two separate financial scams.
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WASHINGTON–The U.S. Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund) has awarded 59 organizations $336.4 million for the development of affordable housing and community facilities serving low-income individuals, families, and communities.
WASHINGTON--The U.S. House Committee on Financial Services has marked up a series of proposed laws, including a bill to close the industrial loan company (ILC) loophole.
TRENTON, Ill.–Illinois-based Scott Credit Union is reporting it has closed on its purchase of Tempo Bank, here.
JERSEY CITY, N.J.–Forbes has released its list of Best In-State Banks and Credit Unions, with the publication reporting that just 3.4% of credit unions across the country made the cut for its best-in-state rankings.
WASHINGTON–Despite last week’s aggressive 75-basis point increase in the Fed funds rate, Federal Reserve Chairman Jerome Powell told the Senate the ongoing interest rate hikes will have little effect on what Americans are paying for groceries and gas.
WASHINGTON—The Consumer Financial Protection Bureau said it is taking its first step toward addressing credit card company penalty policies, which it said cost consumers $12 billion each year, saying it will start by looking at excessive late fees.
WASHINGTON–The total number of mortgages in forbearance decreased in May. According to the Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey, loans now in forbearance decreased from 0.94% of servicers’ portfolio volume in the prior month to 0.85% as of May 31.
ARLINGTON, Va.—Existing home sales fell 3.4% in May to a seasonally adjusted annualized rate of 5.41 million units, representing an 8.9% decrease in sales compared to 2021.
WASHINGTON—Sharing concerns about potential changes to interchange, NAFCU wrote to the Senate Banking Committee ahead of its hearing to examine the Federal Reserve’s Semiannual Monetary Policy Report to Congress,released earlier this month.