The CFPB announced Tuesday that it will open a new office, the Office of Competition and Innovation, to help “spur innovation in financial services by promoting competition and identifying stumbling blocks for new market entrants.” This office replaces the Office of Innovation, which opened in 2018, and Project Catalyst, which launched in 2014, and will help support the CFPB’s broader initiative to analyze new obstacles to open markets and overall enhance the consumer experience.
NAFCU Vice President of Legislative Affairs Brad Thaler wrote to the House Financial Services Subcommittee on Housing, Community Development, and Insurance ahead of their hearing today on the reauthorization and reform of the National Flood Insurance Program (NFIP), sharing the association’s support for the long-term authorization and continued modernization of the NFIP.
New home sales fell 16.6 percent in April to 591,000 annualized units, while March saw a downward revision of 54,000 units. Compared to last year, April sales were 26.9 percent lower. NAFCU Chief Economist and Vice President of Research Curt Long analyzes the data in the latest Macro Data Flash report.
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