The Consumer Financial Protection Bureau today issued a “Supervisory Highlights” report focusing on recent examiner observations of several bank products or business lines, including auto loan servicing, credit cards, debt collection, mortgage servicing, payday lending, and for the first time, small business lending.
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In the previous quarter, banks kept terms and standards for business loans unchanged or eased them slightly, while tightening slightly on commercial real estate loans and easing in most residential mortgage loan categories, according to the Federal Reserve’s latest senior loan officer opinion survey released today.
As President Trump today signed a Congressional Review Act resolution invalidating the Consumer Financial Protection Bureau’s 2013 guidance on indirect auto lending, CFPB Acting Director Mick Mulvaney said the bureau would revisit its Equal Credit Opportunity Act regulations.
Outstanding household debt increased by 0.5 percent in the first quarter of 2018, rising by $63 billion to land at $13.21 trillion, the Federal Reserve Bank of New York said yesterday.
The House today reversed the Consumer Financial Protection Bureau’s 2013 guidance on indirect auto lending.
The Senate today employed a little-used legislative procedure to reverse the Consumer Financial Protection Bureau’s 2013 guidance on indirect auto lending.
The Consumer Financial Protection Bureau’s Consumer Advisory Board will hold two subcommittee calls in the coming weeks, both of which are open to the public.
Outstanding household debt increased by 1.5 percent in the fourth quarter of 2017, rising by $193 billion to land at $13.15 trillion, the Federal Reserve Bank of New York said today.
Many banks anticipate that they will ease credit standards and terms for large and middle-market firms in 2018, but they expect to cool things down in the robust commercial real estate market, according to the Federal Reserve’s latest senior loan officer opinion survey released today.
In a comment letter to the Department of Defense today, ABA called on the Pentagon to repeal a section of the amendments to its Military Lending Act interpretive rule relating to service members’ ability to finance the purchase of Guaranteed Acceptance Protection insurance with a loan used to purchase the vehicle.