American consumers' savings cushion is no longer that cushiony, according to new Federal Reserve research. The savings people accumulated during the pandemic, which at one point topped $2 trillion, are due to run out this quarter, the Federal Reserve Bank of San Francisco said in a study released Wednesday (Aug. 16).
WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) took action against Freedom Mortgage Corporation (Freedom) for providing illegal incentives to real estate brokers and agents in exchange for mortgage loan referrals. Freedom provided real estate agents and brokers with numerous incentives — including cash payments, paid subscription services, and catered parties — with the understanding they would refer prospective homebuyers to Freedom for mortgage loans.
Driving the news: The rate on the 30-year-mortgage ticked up to 7.16% this week — back to the high last reached in October last year. Before that you'd have to go back to 2001 to find mortgage rates this high.
MADISON, Wis.—Worldwide Foundation for Credit Unions (WFCU) is supporting credit union communities in Maui, Hawai’i through CUAid, the National Credit Union Foundation's (USA) disaster relief grant program. CUAid is providing relief to credit union employees, volunteers and communities after devastating wildfires tore through Maui on August 8.
WASHINGTON — The White House on Tuesday held a roundtable examining potentially harmful data broker practices, part of an administration wide push to protect Americans' privacy in the era of AI.
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