The Consumer Financial Protection Bureau today released lists of rural counties and rural or underserved counties to use in 2016 in conjunction with the bureau’s Ability-to-Repay, escrow, HOEPA and appraisal rules. Rural counties were generally defined by using a U.S. Department of Agriculture classification system and underserved counties were defined by data collected under the Home Mortgage Disclosure Act, the CFPB said.
During a hearing on financial scams targeting consumers, Senate Banking Committee members offered different approaches for addressing the problem, with Democrats arguing that financial institutions should take responsibility for scams targeting their customers and Republicans pushing for consumer...
While financial stress among U.S. employees remains high, access to financial planning benefits through work has doubled since 2023, according to a PNC Bank survey.
The rate for a 30-year fixed-rate mortgage averaged 6.2% this week. The rate for a 15-year fixed-rate mortgage averaged 5.27%.
ABA announced the winners of its 2024 ABA Diversity, Equity and Inclusion Awards, which recognize member banks for their internal-facing programs, leadership and activities focused on improving DEI within their workplace.
The Producer Price Index increased 0.2% in August from the previous month, the Labor Department reported.
ABA has been active in recent months on issues important to banks in the mortgage space. The following is a rundown on the topics ABA’s advocacy team has been working on.
