The rate for a 30-year fixed-rate mortgage was 6.94% this week, up from last week when it averaged 6.9%. A year ago, the rate was 6.55%. The rate for a 15-year fixed-rate mortgage was 6.26%, down from last week when it averaged 6.29%. A year ago, the rate was 5.89%.
Under the final rule, covered institutions may choose one of three options to comply with its requirements, including capping their overdraft fee at a flat $5.
CFPB Director Rohit Chopra said his agency will press forward with rulemakings even as federal banking agencies have paused their major initiatives until after President-elect Trump takes office.
The FDIC was ill-prepared to resolve large regional banks at the time of last year’s failures of Silicon Valley Bank and two other banks, the FDIC Office of Inspector General concluded in a new report.
FinCEN issued Spanish translations of an existing alert to financial institutions on a surge of check fraud schemes involving mail theft and an analysis of the problem.
The Consumer Price Index rose 0.3% in November after rising 0.2% the previous month, and increased 2.7% over the past year, the Labor Department said.
The acquisition of an NFL stadium’s naming rights by a credit union raises the question of why a large tax-exempt institution should have an advantage over its tax-paying competitors, according to a Wall Street Journal opinion column.
