NCRC

CFPB, July 24, 2024, CFPB Warns Against Intimidation of Whistleblowers The Consumer Financial Protection Bureau (CFPB) today issued a circular to law enforcement agencies and regulators explaining how companies may be breaking the law by requiring employees to sign broad nondisclosure agreements that could deter whistleblowing. The circular explains how imposing sweeping nondisclosure agreements that do not […]

The Wall Street Journal, July 23, 2024, Sky-High Housing Priced Workers Out of Jackson. Then A Landslide Cut Them Off Cassie and Mark Vandeventer were used to commuting around 45 minutes each way from their home in worker-populated Driggs, Idaho, to their jobs across the state line in pricey Jackson, Wyo. It was an easy

The New York Times, July 24, 2024, Real Estate Crisis? Small Banks Say Their Loans Are Fine. Small banks are feeling misunderstood. They see themselves as integral to neighborhoods across the country: backers of local dry cleaners, dentists and sandwich shops. Investors worry that those banks could be a crisis waiting to happen. The pride

OFR, July 24, 2024, What’s at Stake? Understanding The Role Of Home Equity In Flood Insurance Demand The consequences of climate change will depend on homeowners’ incentives to man-age their risk. We show that low home equity distorts borrowers’ demand for flood insurance by shifting their risk to lenders and federally backed mortgage purchasers. To

ARLnow, July 24, 2024, Affordable Housing Complexes Near Rosslyn And In Long Branch Creek Designated As ‘Revitalization Areas’ The county has designated a pair of affordable housing complexes as “revitalization areas” in an effort to help them secure more funding. The new designation, which the Arlington County Board approved on Monday, affects renovation projects at Arna

CFPB, June 26, 2024, Fair Lending Report of the Consumer Financial Protection Bureau 2023 This report describes our fair lending activities in enforcement, guidance and rulemaking, interagency coordination, and outreach and activities for calendar year 2023.

The American Project, July 15, 2024, California Voters Revisit Statewide Rent Control Law California is home to some of the country’s most rent-burdened individuals and families. Renters make up about 44 percent of households in the state. The average renter spends over half their income on payments to landlords. That means that 1 in 9 tenants are

The Washington Post, June 15, 2024, Biden To Unveil Plan To Cap Rents As GOP Convention Begins President Biden will unveil a new proposal in Nevada on Tuesday to cap rental costs nationwide, according to three people familiar with the matter, as he works to assuage Democratic concerns about the viability of his candidacy while the Republican convention

Market Watch, July 16, 2024, Biden Proposes Nationwide Cap On Rent Hikes To Lower Housing Costs. Experts Say It’s Counterproductive. President Joe Biden has proposed capping rent increases nationwide to 5% in an attempt to rein in surging housing costs, but housing experts are calling the move counterproductive. Biden’s proposed policy would restrict how much

Bloomberg, July 17, 2024, US Housing Starts Increase on Pickup in Multifamily Construction New US home construction picked up in June, though a decline in single-family housing starts to an eight-month low underscored a real estate market challenged by high interest rates. Total housing starts increased 3% to a 1.35 million annualized rate last month, driven by

CFPB, July 18, 2024, CFPB Proposes Interpretive Rule to Ensure Workers Know the Costs and Fees of Paycheck Advance Products The Consumer Financial Protection Bureau (CFPB) today proposed an interpretive rule explaining that many paycheck advance products, sometimes marketed as “earned wage” products, are consumer loans subject to the Truth in Lending Act. The guidance will ensure

D.C. Policy Center, July 18, 2024, Priced Out: Where Can D.C.’s Essential Workers Afford To Live? This report examines housing affordability for essential workers—those who provide critical services for the city and its residents—in the District of Columbia. It is the latest publication in a series of papers focused on workforce housing in the District

Federal Reserve, July 19, 2024, Federal Reserve Board Takes Action To Address Consumer Compliance Breakdowns By Green Dot, Fining The Firm $44 Million For Numerous Unfair And Deceptive Practices And A Deficient Consumer Compliance Risk Management Program The Federal Reserve Board on Friday took action to address consumer compliance breakdowns by Green Dot, fining the

American Banker, July 1, 2024, Patrice Ficklin, CFPB’s Head Of Fair Lending, To Leave For Fannie Mae Patrice Ficklin, who has led the Consumer Financial Protection Bureau’s fair lending office since it opened its doors in 2011, is leaving the agency to rejoin Fannie Mae. Ficklin has been the CFPB’s only fair lending director through seven acting