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March

7
2024
Industry News

Federal Regulators Continue their Focus on Fair Lending and Appraisal Bias

As 2024 gets off the ground, federal regulators are continuing their focus on fair lending issues. In February, the Federal Financial Institutions Examination Council (FFIEC) released a statement on examination principles related to valuation discrimination and bias in residential lending.

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March

7
2024
Industry News

Powell reinforces position that the Fed is not ready to start cutting interest rates

In prepared remarks for congressionally mandated appearances on Capitol Hill Wednesday and Thursday, Powell said policymakers remain attentive to the risks that inflation poses and don’t want to ease up too quickly.

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March

7
2024
Industry News

AG Nessel Advises Consumers To “Slam the Scam” During National Consumer Protection Week

LANSING – As part of the Federal Trade Commission’s (FTC) National Consumer Protection Week, Michigan Attorney General Dana Nessel is encouraging residents to “Slam the Scam” on March 7.

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March

7
2024
Trends

Nevada offers fewer consumer debt protections than almost every other state, report says

Nevada is one of the worst states in the nation when it comes to offering consumer debt protections, according to a new analysis by the National Center for Access to Justice at Fordham Law School. Nevada ranked 47th in the nation on NCAJ’s Consumer Debt Litigation Index, which analyzes states against 24 specific policies designed to protect consumers.

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March

7
2024
Trends

Credit scores decrease for the first time in a decade as more borrowers fall behind on payments

The national average credit score, which has steadily increased over the last decade, fell to 717 from a high of 718 in the beginning of 2023, according to a report from FICO, developer of one of the scores most widely used by lenders. FICO scores range between 300 and 850.

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