Newsbytes

ABA Opposes Farmer Mac Governance Reshuffle

ABA yesterday urged the Farm Credit Administration to withdraw a proposed change to the governance structure of Farmer Mac that could negatively alter the relationship between Farmer Mac and its lender-shareholders.

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OCC: Performing Mortgages Improve in First Quarter

The percentage of mortgages that were current and performing at the end of the first quarter reached 94.2, up from 93.2 percent at the end of 2014 and up from 93.1 percent a year before, according to the Mortgage Metrics Report released today by the OCC.

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ABA Pushes Back on Credit Unions’ ‘Cheerleader’ Regulator

National Credit Union Administration Chairman Debbie Matz today said that her agency would this fall issue a supplemental rule for risk-based capital that would count certain forms of debt -- for example, subordinated debt issued to CU members and non-members -- toward the risk-based capital ratio. “This is the year of regulatory relief,” she said. “As part of modernizing risk-based capital, I am committed to counting supplemental capital in full.”

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CFPB Unveils Complaint Narratives, Access for Government Workers

The Consumer Financial Protection Bureau today published the first 7,700 consumer narratives that consumers had opted to have accompany their complaints in the CFPB’s public database. More than half of consumers submitting complaints since narratives were added in March have opted to share their narratives.

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Supreme Court OKs Disparate Impact Analysis under Fair Housing Act

The U.S. Supreme Court ruled today that disparate impact claims are enforceable under the Fair Housing Act. The decision in the case -- Texas Department of Housing and Community Affairs v. Inclusive Communities Project -- included a note of caution that statistical disparities only impose liability if plaintiffs can connect it to a defendant’s policy causing the disparity in order to “protect defendants against abusive disparate-impact claims.”

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Income and Expenditures Increases in May

Personal income increased $79 billion, or 0.5 percent, in May according to the Bureau of Economic Analysis, the same pace as the previous month. Personal consumption expenditures (PCE) increased $105.9 billion, or 0.9 percent, in May after increasing only 0.1 percent in April.

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Supreme Court Recognizes Disparate Impact Under FHA

Case: Texas Department of Housing & Community Affairs, et al. v. Inclusive Communities Project, Inc., et al. Issue: Whether disparate impact claims are cognizable under the Fair Housing Act (FHA). Case Summary: The U.S. Supreme Court ruled that disparate impact claims may be alleged under the FHA. Inclusive Communities Project, Inc. (ICP) brought a disparate impact claim challenging the Texas ...

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