CFPB issues preliminary decision on TILA preemption of NY state law
The Consumer Financial Protection Bureau this week announced its intent to make a preemption determination regarding whether the Truth in ...
Tag: Consumer lending
CFPB: Home loan activity shifts from refinancing to purchasing
The Consumer Financial Protection Bureau’s most recent annual report on residential mortgage lending activity shows a shift from refinance loans ...
Household debt rises amid growth in credit card debt
Total household debt increased 2% in the second quarter of 2022, rising by $312 billion to land at $16.65 trillion, ...
Fed Survey: Business Leading Standards Tighten, Demand Grows Stronger
Lending standards for business loans tightened during the second quarter of 2022, according to the Federal Reserve’s senior loan officer ...
CFPB to lenders: Algorithms, AI used in credit decisions must be explainable
In a new circular, the CFPB said that under the Equal Credit Opportunity Act and Regulation B, creditors are not ...
Study: Personal loan market sees post-pandemic growth
The personal loan market is making a resurgence after slowing during the pandemic, according to a report released today by ...
First-party data: Smarter insights when determining creditworthiness
With transactional data, banks can make borrowing smarter and better serve more customers.
ABA urges CFPB to balance concerns, benefits of AVMs in rulemaking
ABA offered feedback to the CFPB on a recent outline of proposals under consideration for a joint agency rulemaking to ...
Household debt ticks up slightly in Q1
Total household debt increased by 1.7% to $15.84 trillion in the first quarter of this year, the Federal Reserve Bank ...
Fed survey: business lending standards largely unchanged amid rising demand
Lending standards for business loans remained largely unchanged in the first quarter of 2022, according to the Federal Reserve’s senior ...
