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WASHINGTON—The Federal Trade Commission and the California Department of Financial Protection and Innovation (DFPI) are taking action against various companies doing business as Home Matters USA, Academy Home Services, Atlantic Pacific Service Group, and Golden Home Services America for operating a sham mortgage relief operation that misled consumers and cost them millions.

ALEXANDRIA, Va.–The NCUA board, meeting for the first time in-person at agency headquarters in 30 months—and with Vice Chairman Kyle Hauptman attending his first-ever in-person meeting—has approved new rules for expelling members from credit unions.

WASHINGTON—Economic growth is projected to resume in the second half of 2022, but the combination of high inflation, monetary policy tightening, and a slowing housing market is likely to tip the economy into a modest recession in the new year, according to the September 2022 commentary from the Fannie Mae Economic and Strategic Research (ESR) Group.

WASHINGTON–With the average rate on the 30-year fixed mortgage now topping 6%, it’s no surprise an increasing number of borrowers are turning to adjustable-rate mortgages (ARMs) as they seek lower payments and gamble on refinancing later.

ABU DHABI, U.A.E.—Abu Dhabi has formed a government body to develop its strategy for regulating and promoting the world of virtual assets.

NORTH LIBERTY, Iowa–GreenState Credit Union said it has eliminated 42 jobs, citing a decline in loan applications in certain areas.

PLANO, Texas–InTouch Credit Union (ITCU) continues to support its “You and Us, Fighting Hunger Together” campaign as representatives from ITCU helped prepare Backpack Bags for children who are food insecure with Three Square Food Bank in Las Vegas.