ANCHORAGE, Alaska –The Global Credit Union Foundation donated $72,500 to community nonprofits in Alaska and Arizona. The April donations were part of the Foundation’s 2024 quarterly distribution of funds in support of its mission to aid needs-based organizations that benefit children, veterans, military personnel and their families, and local food banks and pantries.
The US appears likely to enter a default cycle in the near future, according to senior fund managers and economists. A recent bout of M&A transactions involving chapter 11 cases point in the same direction.
Courts are busy following the U.S. Supreme Court decision on the Consumer Financial Protection Bureau’s funding structure, including updates on challenges to its rules and other federal rules.
WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today launched a public inquiry into junk fees that are increasing mortgage closing costs. The CFPB wants to understand why closing costs are increasing, who is benefiting, and how costs for borrowers and lenders could be lowered. According to a CFPB analysis, the closing costs borrowers pay in connection with a mortgage have risen steeply in recent years. From 2021 to 2023, median total loan costs for home mortgages increased by over 36%.
Consumers have reported receiving various forms of fictitious correspondence via email, Google Chat, and the U.S. Postal Service related to up-front fee scams involving fictitious inheritance or beneficiary payouts. The notifications appear to be initiated by senior officials of the Office of the Comptroller of the Currency (OCC) regarding funds purportedly held by the OCC.
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