Can You Help Someone Become Financially Capable?

Posted by & filed under CFPB, Regulation.

Researchers at the World Bank have posted Can You Help Someone Become Financially Capable? A Meta-Analysis of the Literature.The abstract reads, This paper presents a systematic and comprehensive meta-analysis of the literature on financial education interventions.  The analysis focuses on financial education studies designed to strengthen the financial knowledge and behaviors of consumers. The analysis identifies188… Read more »

Reiss on New Residential Real Estate Exchange

Posted by & filed under CFPB, Equity, Regulation.

NationSwell quoted me in Can’t Afford a Down Payment? Let Investors Help You Buy Your Home. It reads in part, Enter PRIMARQ, the world’s first residential real-estate equity exchange — a soon-to-launch venture of San Francisco entrepreneur Steve Cinelli. Can’t afford a down payment? Let investors put together the capital you can’t, without relinquishing all… Read more »

Paternalism or Consumer Protection?

Posted by & filed under CFPB.

Adam Smith (not that one) and Todd Zywicki have posted Behavior, Paternalism, and Policy: Evaluating Consumer Financial Protection to SSRN. It opens, The Consumer Financial Protection Bureau (CFPB) is one of the most powerful and least accountable regulatory agencies in American history. Immune from budgetary oversight by Congress and headed by a single director whom… Read more »

CFPB Strategy on Mortgage Data

Posted by & filed under CFPB, Federal Housing Finance Agency.

The CFPB released its Strategic Plan, Budget, and Performance Plan and Report which provides a good summary of what the Bureau has done to date. I was particularly interested in this summary of its work to build a representative database of mortgages: In FY 2013, the CFPB began a partnership with the Federal Housing Finance… Read more »

Reiss on Mortgage Availability

Posted by & filed under CFPB, Regulation.

The Consumer Eagle quoted me in Will Mortgages be Harder to Get in 2014? It reads in part, David Reiss, Professor of Law at Brooklyn Law School, also sees some benefit in more conservative guidelines. “The QM rules and ability-to-repay rules legislate commonsense things like making sure people can repay loans that they take out,… Read more »

Reiss on BK Live!

Posted by & filed under CFPB, Federal Housing Administration, Regulation.

The BK Live segment on Mortgage Inequities in Brooklyn has been posted to the web. Mark Winston Griffith (Brooklyn Movement Center Executive Director), Alexis Iwaniszie (New Economy Project) and I discuss mortgage inequities and how they effect Brooklyn (and beyond). gets a nice shout out from BK Live.

Gimme (Mortgage) Data

Posted by & filed under CFPB.

The CFPB announced that it is seeking feedback on potential changes to mortgage information reported under the Home Mortgage Disclosure Act (HMDA). Data collection seems like a pretty obscure issue, but some Republicans and financial industry interests have been attacking the CFPB for collecting so much data. Given the rapid changes in the consumer financial… Read more »