Fed Survey: Loan Demand, Standards Begin to Stabilize
Loan demand and standards for lending began to stabilize in the third quarter after demand weakened and standards tightened during the economic freefall of the second quarter.
Browsing: Consumer lending
CFPB: About 6% of Mortgage Borrowers Receiving Coronavirus Relief
Around 6% of outstanding first-lien mortgages in June 2020 were reporting zero payment due based on credit bureau data, up from essentially none in February—thus indicating some kind of coronavirus-related payment relief, the Consumer Financial Protection Bureau said in a report today.
Closed-End Delinquencies Rise in Q1 as Pandemic Began
Consumer credit delinquencies rose in all 11 closed-end loan categories in the first quarter of 2020 as the coronavirus pandemic and subsequent economic slowdown began in the U.S., according to the American Bankers Association’s Consumer Credit Delinquency Bulletin released today.
ABA Welcomes CFPB’s Reg Z Libor Transition Proposal, Recommends Tweaks
With the London Interbank Offered Rate relied on by many banks not guaranteed to be available after 2021, ABA and the Consumer Bankers Association today welcomed the Consumer Financial Protection Bureau’s proposed changes to Regulation Z designed to facilitate the transition away from Libor.
Fed Survey: Loan Demand Plummets in Second Quarter
As the U.S. economy dove deeper into recession amid the coronavirus pandemic in the second quarter, more than half of banks reported weaker demand for commercial and industrial loans, according to the Federal Reserve’s latest survey of senior loan officers released yesterday.
OCC Issues Long-Awaited ‘True Lender’ Proposal
In a long-awaited move, the OCC today issued a proposal establishing a “clear test” to determine when a bank making a loan is considered the “true lender” in the context of a partnership between a bank and a third party.
CFPB Study Finds Mixed Results for ‘Credit-Builder’ Loans
The Consumer Financial Protection Bureau today released a study of the effects of so-called credit-builder loans on credit scores.
CFPB Proposes Reg Z Changes for Libor Transition
As part of the planned transition away from the London Interbank Offered Rate—which is not guaranteed to be available after 2021—the Consumer Financial Protection Bureau today proposed a rule addressing the rate transition and Regulation Z.
Household Debt Increased Ahead of Coronavirus Outbreak
Outstanding household debt increased by 1.1% in the first quarter of 2020, rising by $155 billion to land at $14.3 trillion, the Federal Reserve Bank of New York reported today.
Fed Survey: Coronavirus Pandemic Weakens Demand for CRE, Consumer Debt
Demand for commercial and industrial loans was mixed in the first quarter, as the COVID-19 outbreak was beginning to strike the U.S. economy, according to the Federal Reserve’s latest survey of senior loan officers today.