The White House is pausing federal grants and loans starting Tuesday as President Donald Trump’s administration begins an across-the-board ideological review of its spending.
The Consumer Financial Protection Bureau rule will remove $49 billion in medical debt from the credit reports of more than 15 million Americans, according to the bureau.
While sales of previously occupied U.S. homes rose in November for the second straight month, the housing market remains in a slump and on track for its worst year since 1995.
Funding will go toward updating aging water systems and replacing lead pipes, building and expanding water systems in growing areas and improving cybersecurity systems.
Veterans own nearly 2 million small businesses that employ 5.5 million people in the U.S. Their numbers have shrunk, however, as the veteran population has aged.
While lower rates give home shoppers more purchasing power, a mortgage around 6% is still not low enough for many Americans struggling to afford a home.
The settlement stems from a 2017 lawsuit brought by the bureau that casts Navient as a company that was far more concerned with its financial interests than the needs of vulnerable student loan borrowers.
The SBA awarded about 4 million loans worth $380 billion through the program. More than $300 billion was outstanding as of late 2023.
The recent pullback in mortgage rates overall has sparked a pickup in applications for home refinancing loans, which are 23% higher than a month ago, according to the Mortgage Bankers Association.
Refinance applications were up nearly 60% nationally versus the same week last year, but applications for loans to buy a home are still down from a year ago.
The Consumer Financial Protection Bureau said Thursday that apps that allow workers to access their paychecks should be subject to the Truth in Lending Act, a 1968 law that requires lenders disclose all loan costs and fees.
Consumer Financial Protection Bureau Director Rohit Chopra said the bank had been “illegally loading up auto loan bills with excessive charges,” with about 1,000 families losing their cars to repossession as a result.
The share of credit card debt that’s more than 90 days overdue rose to 10.7% during the first quarter, a 12-year high.
SPCS is a tool that a growing number of lenders are adopting to help improve credit access for underserved groups.
They have been around since the 1970s, but they’ve recently become a lot more popular.
Overall, the discouraging picture has policymakers and economists keeping a close eye on small and midsize banks, which hold about 80 percent of the overall stock of commercial mortgage loans.
The programs are intended to help central Indiana Black business owners combat long-standing challenges in securing bank loans.
The IEDC said the Legend Fund will give non-traditional lenders an incentive to provide operating capital to Indiana-based businesses. Eligible lenders could have a portion of the loans they issue purchased by the IEDC, freeing up capital to support more entrepreneurs and small businesses.
Nearly 20% of outstanding debt on US commercial and multifamily real estate will mature this year, requiring refinancing or property sales.
Hoosiers for Responsible Lending on Wednesday hosted a press conference lauding two pieces of legislation at the Statehouse that they said would significantly improve consumer lending policy in Indiana.
Indianapolis-based DecisionRx uses technology to recommend medication decisions to physicians and pharmacists based on genetic profiles, existing medication regimes and contraindications.
