The Consumer Financial Protection Bureau today issued a proposal to raise the threshold at which banks are required to report data on home equity lines of credit. Under the rule, banks originating more than 100 HELOCs are generally required to report under HMDA. The proposal would raise that threshold to 500 HELOCs for the calendar years 2018 and 2019, giving the CFPB time to determine if it will make the adjustment permanent. Comments on the proposal are due by July 31.
The Small Business Administration has reinstated stronger underwriting requirements for 7(a) loans through the issuance of a Standard Operating Procedure document.
So far in 2025, property and casualty insurers in the S&P 500 are up about 4.9%, compared with declines for banks (-10.0%) and the broader index (-8.6%).
Consumer sentiment fell 4.8 points in April to 52.2, down 25 points from one year ago, according to final results of the University of Michigan Surveys of Consumers.
The Federal Reserve and FDIC rescinded two joint statements issued under the Biden administration on the risk management obligations of financial institutions should they offer crypto-related services.
The rate for a 30-year fixed-rate mortgage was 6.81% this week. The rate for a 15-year fixed-rate mortgage was 5.94%.
In a video message, Treasury Secretary Scott Bessent told students across the U.S. that their participation in Teach Children to Save Day represents their first step toward wise money management.
