Government News

A combination of inflation and climbing interest rates seems to be stretching consumers’ balance sheets, but it’s not clear yet whether they’re getting to a breaking point. Newly released data from WalletHub says U.S. consumers took on $43 billion in additional…

WASHINGTON, May 9 (Reuters) – The U.S. government will begin defaulting on its payment obligations between early June and early August without an increase in the federal debt limit, the Bipartisan Policy Center said on Tuesday, flagging pressure from a…

US mortgage rates rose for the third week in a row but stayed just under the 7% threshold. The 30-year fixed-rate mortgage averaged 6.96% in the week ending August 10, up from 6.90% the week before, according to data from Freddie…

On July 17, 2023, US Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra and Commissioner for Justice and Consumer Protection of the European Commission (EC) Didier Reynders published a joint statement announcing the beginning of an informal dialogue to take place at…

The Washington, D.C., City Council has approved a law to address gaps in the district’s debt collection regulations. The council unanimously approved the “Protecting Consumers from Unjust Debt Collection Practices Amendment Act of 2022,” sponsored by City Council Chairman Phil…

Today, the CFPB released its Fair Lending Annual Report to Congress , describing our fair lending activities in enforcement and supervision; guidance and rulemaking; interagency coordination; and outreach and education for calendar year 2022. In 2022, the CFPB’s fair lending work centered…

The House passed a bill to suspend the debt ceiling on Wednesday, clearing a major legislative hurdle with just days left before the US is expected to default. The final House vote was 314 to 117, with 149 Republicans and 165 Democrats…

Americans’ debt levels continue to climb to new heights at a time when economic conditions are becoming increasingly less stable. Household debt balances set a fresh record high of $17.05 trillion during the first quarter, growing $148 billion or 0.9% from…

WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) issued guidance on debt collectors, covered by the Fair Debt Collection Practices Act, threatening to foreclose on homes with mortgages past the statute of limitations. The advisory opinion clarifies that a…

U.S. House Republicans on Wednesday struggled but whipped just enough votes to pass their plan to temporarily raise the nation’s borrowing limit and also cut spending by slashing key parts of President Joe Biden’s climate and tax law, potentially risking…