Mortgage rates rise

Consumer household inflation expectations in May decreased at the short-term horizon and remained unchanged at the medium- and longer-term horizons, according to the Federal Reserve Bank of New York’s most recent Survey of Consumer Expectations.

A proposal to ease “common bond” membership requirements for federal credit unions is part of a series of policy actions that have steadily expanded credit union membership beyond the limits intended by Congress, ABA said in a letter...

The NCUA is issuing an interim final rule to clarify the powers of federal credit unions to charge certain fees, much like the OCC recently did for national banks.

Creditors may be legally obligated to check a consumer's immigration status for mortgage loans and credit cards, especially where removal from the U.S. may disrupt the consumer's income, the CFPB said.

ABA reiterated several key recommendations it first outlined in 2024 in response to CFPB’s proposed revisions to Regulation X’s mortgage servicing rules.

Consumer credit increased at a seasonally adjusted annual rate of 4.8% in April.