Newsbytes

ABA, OCC File Briefs in Missouri Mutual M&A Litigation

ABA and the Missouri Bankers Association have filed a friend-of-the-court brief in a Missouri case in which two mutual thrift depositors claim that they are entitled to a distribution of their thrift’s capital at the time the bank merged into another institution.

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ABA Expresses Concern about Using Alternative Data for Credit Scoring

Banks are generally open to the idea of using alternative data sources -- such as mobile phone bills and rent payments -- to help consumers establish a credit history, but concerns about compliance, data integrity and other risks stand in the way, ABA said today in a comment letter to the Consumer Financial Protection Bureau.

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Household Debt Tops 2008 Peak

Outstanding household debt increased by a 1.2 percent in the first quarter, rising by $149 billion to a new record level of $12.73 trillion, the Federal Reserve Bank of New York said yesterday. The quarterly increase brought household debt above its 2008 peak and was driven by increases in nearly every debt category. The first quarter saw growth in mortgage ...

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ABA Calls for Revisions to Cyber Standards for Insurers

ABA today submitted comments to the National Association of Insurance Commissioners on its draft of the insurance data security model law, which would establish data security and data breach notification standards for insurance licensees (insurers and insurance agencies).

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FHFA: HARP Refinances Down as Rates Climb

More than 510,000 borrowers refinanced their Fannie Mae or Freddie Mac mortgage loans in the first quarter, with 13,425 refinanced through the Home Affordable Refinance Program, the Federal Housing Finance Agency said today.

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Industrial Production Increased 1.0% in April, Largest Gain Since February 2014

Industrial production increased 1.0% in April after a revised 0.4% March increase. This was the third consecutive monthly increase and largest gain since February 2014. Over the last year, industrial production was up 2.2%. Manufacturing output increased 1.0% in April after a 0.4% decline in March. As with the overall index, this increase was its largest since February 2014. Production ...

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Carson Signals FHA Policy Shift on PACE Loans

Housing and Urban Development Secretary Ben Carson signaled today that the administration may revisit an Obama-era policy on Property Assessed Clean Energy, or PACE, loans, a controversial financial product that allows homeowners to pay for energy-efficient retrofitting -- such as solar panels and high-efficiency air conditioners -- through their property tax assessments.

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