On Our Radar

American Banker, February 8, 2023, Black-Owned Bank in Ohio is First De Novo Approved in 2023 Adelphi Bank, a Black-owned de novo in Ohio, won regulatory approval to become the first new U.S. bank of the year. Adelphi, a minority depository institution, was cleared for opening by the Federal Deposit Insurance Corp. and is planning to launch […]

The Washington Post, February 8, 2023, Social Security, Medicare Brawl Awaits Washington, Even if not This Year Leaders of both parties have become unwilling to discuss potential changes to Social Security and Medicare — even as time dwindles before they reach financial insolvency and benefit reductions for tens of millions of American seniors will automatically

American Banker, February 8, 2023, What Comes Next For The Federal Home Loan Bank System? he Home Loan banks play a critical role in supporting housing finance and community development throughout the country. They do so by providing low-cost funding to their member financial institutions (that is generally collateralized by housing or real estate assets),

The Washington Post, February 9, 2023, See How Many All-Cash Buyers Snagged Houses in Your Neighborhood Rising interest rates, soaring home prices and decreasing inventory aren’t the only things making it difficult to buy a home these days. Last year, nearly a third of U.S. homes were purchased with cash,according to data provided by the

Consumer Financial Protection Bureau, February 7, 2023, CFPB Issues Guidance to Protect Mortgage Borrowers from Pay-to-Play Digital Comparison-Shopping Platforms Today, the Consumer Financial Protection Bureau (CFPB) issued an advisory opinion to protect Americans from double dealing on digital mortgage comparison-shopping platforms. Companies operating these digital platforms appear to shoppers as if they provide objective lender

American Banker, February 6, 2023, CFPB redlining lawsuit against nonbank mortgage lender gets dismissed A federal judge has dismissed a redlining lawsuit filed by the Consumer Financial Protection Bureau against a Chicago mortgage lender, rejecting the bureau’s argument that a key anti-discrimination law protects prospective borrowers. On Friday, Judge Franklin U. Valderrama of the U.S.

The Wall Street Journal, February 6, 2023, Banks are Hemorrhaging Deposits at Record Rate U.S. banks shed $206 billion in deposits in the third quarter, the second biggest decline on record. That extended the second quarter’s $370 billion decline and marked the first consecutive quarterly declines since 2010, according to the most recently available FDIC data back to 1984.

Huffpost, February 6, 2023, Why Rival Sides In The Housing Crisis Plaguing Major U.S. Cities Are Considering Peace Amid growing concern over the lack of affordable housing in major U.S. metropolitan areas, a movement of college-educated young professionals has arisen to challenge local resistance to liberalizing zoning laws that prevent the construction of more housing.

The New York Times, February 1, 2023, The Next Retirement Communities Won’t Be Just for Seniors New developments that integrate senior housing into age-diverse apartment buildings offer a more affordable alternative to isolated suburban retirement communities.

Politico, February 1, 2023, Biden to remake economic team with Brainard, Bernstein poised for top roles President Joe Biden is poised to shake up his leadership team with two veteran economic minds likely to assume new roles just as he faces his best chance yet to avoid a recession that could derail his reelection effort.

American Banker, February 1, 2023, American Banker: CFPB will cut credit card late fees to $8 The Consumer Financial Protection Bureau plans to cut credit card late fees to $8, wiping out up to $9 billion a year in fees that have become highly profitable for banks and credit card companies. CFPB Director Rohit Chopra

The New York Times, January 31, 2023, The Police Cannot Be a Law Unto Themselves In 2020, during the weeks of protest and civil unrest that followed the murder of George Floyd at the hands of a Minneapolis police officer, I argued that the problem of police violence and misconduct was a problem of democracy. And this week, in

Bloomberg, January 29,2023, Wall Street Is Losing Out to Amateur Buyers in the Housing Slump In this slice of the Sonoran Desert, the roles of vulture and carrion have suddenly reversed. First-time buyers and small investors have the upper hand on supposedly sophisticated players that badly misjudged the market. It’s quite a turnabout. More than

Forbes, January 27, 2023, Ending Affirmative Action Would Be A Terrible Mistake Just as with the rash Dobbs decision, it would be a terrible and partisan mistake to end affirmative action because its absence would generate profound consequences beyond the universities where the fight is playing out. Ending affirmative action will only compound the many lingering and