The Federal Reserve and FDIC today issued an advisory on voluntary private education loan rehabilitation programs to alert banks to an amendment to the Fair Credit Reporting Act that was included in the S. 2155 regulatory reform law.
About 20 percent of the decline in young adult homeownership rates — accounting for roughly 400,000 non-homeowners — can be attributed to rising student loan debts, according to new research published yesterday by the Federal Reserve.
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.
Findings from ABA Research
Sen. Mike Crapo (R-Idaho) tonight released a revised version of S. 2155, the bipartisan regulatory reform bill that he and four Democratic colleagues are championing.
By, Jim Edrington
As the Department of Education conducts the regulatory review mandated by President Trump, ABA and the Consumer Bankers Association yesterday urged the department to revisit the overly expansive final rule targeting campus bank accounts that the Obama administration finalized in October 2015.
With 60 percent of consumers placing a high priority on mobile and online banking services, according to a recent ABA survey, ABA has endorsed the digital lending solution offered by LendKey.
The percentage of student loan borrowers leaving school with at least $20,000 in student debt has doubled from 20 percent to 40 percent from a decade ago, according to data released by the Consumer Financial Protection Bureau today.
During his confirmation hearing today, Randal Quarles — President Trump’s nominee to serve as Federal Reserve vice chairman for supervision — endorsed the concept of tailored supervision that ABA has done much to work into the policy conversation over the past several years.