Credit unions support legislative solutions to improve access to housing and reduce gaps in homeownership rates, America’s Credit Unions President/CEO Jim Nussle wrote to the Senate Banking Committee ahead of its hearing on housing affordability. Credit unions believe in supporting their members and their communities by creating products and services designed to suit member needs, …
The CFPB released a blog post Friday outlining their belief that home closing costs include some “junk fees,” under the bureau’s definition, and are too much of a burden for mortgage borrowers who are already taking on a huge financial undertaking. The CFPB cites the “median amount paid by borrowers was nearly $6,000” in …
President Joe Biden’s budget request for fiscal year 2025 contains $325 million for the Treasury’s Community Development Financial Institutions (CDFI) Fund, an increase of $1 million from the 2023 level. Credit unions are 516 of the 1,460 certified CDFIs nationwide—the largest proportion by financial institution type. Certified CDFIs can apply for awards and grants through …
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