Government News

Mortgage rates continued to decline for the fourth consecutive week, with the average 30-year fixed rate falling to 6.83%. Rates on long-term fixed-rate mortgages, including FHA loans, VA loans and jumbo loans, all dropped during the past week. Meanwhile, short-term mortgage…

On March 3, the CFPB received a rulemaking petition from the National Consumer Law Center (NCLC) in response to forthcoming FCRA rulemaking announced in the Bureau’s Fall 2022 regulatory agenda. As previously covered by InfoBytes, the Bureau announced it is considering pre-rulemaking activity…

WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) took action today against Portfolio Recovery Associates, one of the largest debt collectors in the nation, for violating a 2015 CFPB order and engaging in other violations of law. The CFPB filed…

Starting this year, the three leading credit agencies began wiping medical debt under $500 from americans’ credit reports. To benefit from this change, you don’t have to do anything. But experts say it’s still smart to check on it. “If…

A new CFPB report estimates that medical collections tradelines declined by 37 percent between 2018 and 2022. “Market Snapshot: An Update on Third-Party Debt Collections Tradelines Reporting” also found that medical debt constitutes a majority (57 percent) of all collections on credit…

Treasury Secretary Janet Yellen, in a letter to Congress on Thursday, said the U.S. has reached its debt limit, and has begun resorting to “extraordinary measures” so the government can continue paying its bills. Yellen had already previously warned the…

As the end of China’s stringent Covid restrictions quickens the country’s economic recovery, concerns about pent-up Chinese demand — and the inflation that may follow — could mean bad news for the U.S. Federal Reserve. Economic data indicates that the Fed’s aggressive…

An early December survey from U.S. News & World Report shows that more than eight in 10 Americans who have credit card debt are experiencing anywhere from a little to a lot of anxiety about it. Nearly 31% have at least $6,000…

CNN —  Mortgage rates dipped again this week, marking the third straight week of falling rates. The 30-year fixed-rate mortgage averaged 6.49% in the week ending December 1, down from 6.58% the week before, according to Freddie Mac. A year ago, the…

Credit card debt hit a record high of $930 billion for Americans in the final quarter of 2019, according to the latest data from the Federal Reserve Bank of New York released on Feb. 11. That’s a $46 billion increase in credit…