The Consumer Financial Protection Bureau recently initiated a lawsuit against Heights Finance Holding Company, previously known as Southern Management Corporation, along with a number of its affiliated subsidiaries collectively known as Southern.
The Consumer Financial Protection Bureau took action against Freedom Mortgage Corporation for engaging in illegal practices involving real estate brokers and agents, providing them with incentives such as cash payments, subscription services.
The Reserve Bank of India (RBI) made an announcement on Aug. 14, unveiling the commencement of a Pilot Project for a Public Technology Platform designed to facilitate frictionless credit, according to a press release. This initiative began on Aug. 17.
U.S. Small Business Administration Administrator Isabella Casillas Guzman reported the SBA Small Business Investment Company’s (SBIC) Diversification and Growth Final Rule is now in effect.
An upcoming official data release is poised to uncover yet another deceleration in inflation, following a decline in energy prices during July, according to a report. This situation unfolds in the wake of a notable surge in wages, adding to the mounting pressure on the Bank of England.
Ghada Ijam, the chief information officer of the Federal Reserve System, was officially inducted into the CIO Hall of Fame on Aug. 16, according to a press release. The recognition took place during a ceremony held as part of the 2023 CIO 100 Symposium & Awards, which took place in Rancho Palos Verdes, California.
The U.S. Small Business Administration issued new interim guidance for the 8(a) Business Development Program (BFPOB) in response to a ruling by the U.S. District Court, which impacts how social disadvantage is determined in the program.
The Consumer Financial Protection Bureau (CFPB) initiated legal proceedings against Heights Finance Holding Company, previously identified as Southern Management Corporation, a high-cost installment lender, and a number of its subsidiaries (collectively referred to as Southern).
the Federal Reserve Bank of New York’s Center for Microeconomic Data released the July 2023 SCE Labor Market Survey, which indicates a decrease in the share of job seekers compared to last year, improved satisfaction with wage compensation and nonwage benefits, alongside increased anticipated likelihood of future unemployment.
In a press release issued on August 21, 2023, The Federal Reserve Bank of Kansas City announced its annual Economic Policy Symposium, scheduled to take place from August 24 to 26 in Jackson Hole, Wyoming. This year's 46th edition of the symposium will ce
The Commodity Futures Trading Commission (CFTC) has issued a recent order that both initiates and concludes proceedings against Peter L. Bryant from Texas and his firm, Bryant Capital Trade Management Corporation. These actions were taken due to allegations of fraud while operating as an unregistered commodity trading advisor (CTA) and for the failure to properly register as a CTA.
The Quarterly Report on Household Debt and Credit has been released by the Center for Microeconomic Data at the Federal Reserve Bank of New York, according to a press release. This report highlights a slight elevation in overall household debt during the second quarter of 2023, showing an augmentation of $16 billion (0.1%) to reach a total of $17.06 trillion.
The six-member Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI), which met between Aug. 8 and 10, is largely anticipated to maintain the policy repo rate at 6.5% for a third straight time, according to a press release. Concerns over growing consumer price index (CPI) inflation, driven by higher prices for vegetables and pulses, may not dissuade the central bank from retaining its monetary stance of "withdrawal of accommodation" in the face of surplus liquidity in the banking sector. This is because higher prices for vegetables and pulses are driving up these costs.
After experiencing a series of eleven interest rate hikes that commenced in early 2022, market participants remain vigilant in closely observing the actions of the Federal Reserve (Fed) for any indications of additional upticks in interest rates.
On August20, the Bangko Sentral ng Pilipinas (BSP) has indicated that it sees no immediate need to alter its monetary policy, maintaining interest rates at 6.25% as economic growth in the Philippines slowed for a third consecutive quarter. BSP governor Eli Remolona stated that the recent growth decline was unexpected but believes the economy will recover momentum.
The Reserve Bank of India's six-member monetary policy committee is in a three-day meeting to determine India's key interest rates, with RBI governor Shaktikanta Das set to announce the decision. The focus is on the repo rate, currently at 6.5%, which affects deposit and loan rates; the committee aims to manage inflation within 4% with a range of 2-6%.
Patrick T. Harker, president and CEO of the Federal Reserve Bank of Philadelphia, addressed the Philadelphia Business Journal’s State of the Economy forum on Aug. 8, indicating that in light of recent economic data and discussions with leaders across the Third District, he believes the time may have arrived to maintain steady interest rates and allow prior monetary policy measures to continue their impact with a focus on reducing inflation, according to a press release.
The Federal Reserve Bank of Kansas City released its July Services Survey on July 28, which showed activity in the Tenth District remained consistent during the month, with expectations for future activity increasing slightly. Chad Wilkerson, senior vice president of the Kansas City Fed said that pattern is expected to continue.
In July 2023, the Federal Reserve raised its target federal funds rate by 0.25%, marking the 11th increase since March 2022 and bringing the rate to a range of 5.25% to 5.50%, the highest since early 2001.
