On Our Radar

Fortune, March 7, 2022, What home prices will look like in 2023, according to Fannie Mae Next year, Fannie Mae projects home prices will rise 4.2%—with the median existing home price jumping to $395,000. “The effect of buyers being priced out should mean fewer bidding wars and slower house price appreciation,” wrote Fannie Mae economists […]

The New York Times, March 7, 2022, Rents are roaring back in New York City Rents in New York rose 33 percent between January 2021 and January 2022, according to the online listing site Apartment List, almost double the national rate and the highest increase among the 100 largest American cities tracked by the group.

American Banker, March 1, 2022, More states look to cap consumer interest rates at 36% Lawmakers in New Mexico recently approved a 36% rate cap, which would slash the state’s current maximum APR from 175%. It now awaits the governor’s signature. Legislators in Rhode Island and Minnesota are considering similar restrictions, and consumer advocates in

The Wall Street Journal, March 2, 2022, Powell Says Fed Is on Track to Raise Rates in Two Weeks Federal Reserve Chairman Jerome Powell said he would propose a quarter-percentage point rate increase at the central bank’s meeting in two weeks amid high inflation, strong economic demand and a tight labor market, offering an unusually explicit preview of

AP News, March 1, 2022, From banking to sports to vodka, Russia’s isolation grows In barely three days, Russia has become an international outcast because of its invasion of Ukraine, and its leader is finding himself with fewer and fewer foreign friends. What’s more, the actions against Moscow are happening in diverse, far-reaching ways that

The White House, February 28, 2022, Fact Sheet: The Biden-?Harris Administration Advances Equity and Opportunity for Black People and Communities Across the Country From the first day in office and every day since, the Biden-Harris Administration has taken an historic approach to advancing racial equity, including directing every agency across the whole of the federal

New York Post, March 1, 2022, Russian cyber attacks against US banks increasing: sources Russia appears to have officially declared cyberwar on the US, taking what’s been described as preliminary steps at crippling its banking system and possibly other major industries, The Post has learned. The Biden administration has been working with bank executives for

The Washington Post, February 25, 2022, Supporters say they have the votes in the House to pass a reparations bill after years of lobbying More than three decades after it was first introduced, a House bill that would create a commission to study reparations for Black Americans has the votes to pass, its key champions

American Banker, February 23, 2022, Fed capital policy puts community development aid out of some banks’ reach A landmark Treasury Department program designed to invest billions in poor communities around the U.S. through specialized financial institutions is being hamstrung by little-known Federal Reserve guidance, significantly reducing the capital available for certain small banks. But one

American Banker, February 22, 2022, Ransomware attacks are rising, payment security consortium warns A payment security standards group released a warning this month about the growing threat of ransomware, echoing forecasts from the U.S. government and others that an uptick in such attacks, which coincided with the pandemic, will likely continue. The Payment Card Industry Security Standards

The Washington Post, February 23, 2022, DC traffic deaths at 14-year high with low-income areas hardest hit Lower-income neighborhoods in the District recorded eight times more traffic fatalities in recent years than the city’s wealthiest area, an analysis shows, as residents call for more enforcement and road improvements following the deadliest year on city streets

NY Daily News, February 23, 2022, Homelessness is a women’s issue New York’s 22-month ban on evictions expired last month, leaving tens of thousands of New Yorkers at risk of losing their homes. A disproportionate number of these households are led by single mothers of color, and thousands of women are now scrambling to keep

USA Today, February 23, 2022, Iowa’s only Black-owned bank would combat discrimination, increase equity It was April 2020, a month after health officials declared the coronavirus a pandemic and a month before George Floyd’s murder. “OK,” she thought in a silent prayer, “if this is really something I’m supposed to do, I need You to

Forbes, February 23, 2022, SBA Offers Increased Assistance To Black Female Business Owners The Biden administration and the SBA have made it a priority to help Black-owned businesses owned by women. Last week, SBA Administrator Isabella Casillas Guzman announced the availability of $1.5 million for 10 new grant opportunities for established Minority Serving Institutions aspiring

American Banker, February 22, 2022, Wells Fargo sued for discrimination against Black borrowers Christopher Williams filed the suit in the U.S. District Court for the Northern District of California against Wells Fargo, which is headquartered in San Francisco. The complaint seeks unspecified damages for four counts of race discrimination and violation of the Equal Credit