The September employment report disappointed analysts; will it also complicate the Federal Reserve’s plan to begin withdrawing the monetary support that has cushioned the economy throughout the pandemic?Read More
As foreclosure rates continue to rise and loan modifications fall short of projections, pressure is intensifying on the Obama Administration — to push lenders and servicers harder — and on lenders and servicers (from several directions) to do more than they have done and are doing to help struggling borrowers avoid foreclosure.
In a decision that surprised just about everyone, the U.S. Supreme Court rebuffed the Comptroller of the Currency’s expansive federal preemption claim, ruling that states have the authority to enforce their consumer protection laws against national banks.
How’s this for a term you haven’t heard recently in connection with the housing market: “Improvement?” It has cropped up recently in the comments of analysts, describing what is still a decidedly mixed bag of statistics that are neither as bad as they have been nor as good as industry executives and government policy-makers would like them to be.
Providing a welcome jolt of good news to financial institutions, which haven’t had much to cheer of late, the California Supreme court ruled recently that tapping public benefit payments to pay overdraft charges or other fees — a common banking industry practice — does not violate state law or public policy.