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Newsbytes

Consumer credit delinquencies declined in eight out of 11 closed-end loan categories in the second and third quarters of 2020 amid significant fiscal support and sound financial management from consumers, according to ABA’s Consumer Credit Delinquency Bulletin released today.

Compliance and Risk

The American Bankers Association today joined a coalition of finance, housing and insurance trade groups in a letter urging the Department of Housing and Urban Development to quickly advance a proposed rule that would allow mortgagors the option to purchase private flood insurance on Federal Housing Administration-insured mortgages for properties located in Special Flood Hazard Areas.

Newsbytes

On President Biden’s first day in office, the White House issued a memo directing “executive departments and agencies” to freeze any pending regulations not yet published in the Federal Register.

Newsbytes

Consumer Financial Protection Bureau Director Kathy Kraninger today announced her resignation as head of the agency. Kraninger was tapped to lead the CFPB in 2018 by President Trump.

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