Consumers’ financial vulnerability hits record high: Report
The share of American households considered "financially vulnerable" rose to 17%, the highest level since at least 2018, according to the nonprofit Financial Health Network.
Homeowners insurance
California bills would pause mortgage payments in disasters
Alongside a bill that gives homeowners a year of forbearance after state-declared emergencies, lawmakers will consider extending wildfire-related moratoriums.
Fed’s Powell warns climate change will affect housing market
Federal Reserve Chair Jerome Powell said insurance companies and banks are already pulling out of disaster-prone areas, which could pose problems.
Home insurance woes threaten mortgage lending, experts warn
A combination of economic and environmental factors are sending property and flood coverage premiums soaring, which can make costs insurmountable for some.
Wells’ $1B penalty: Regulators make good on Trump tweet
Months after President Trump vowed that Wells Fargo would pay a severe penalty, the CFPB and OCC hit the bank with a $1 billion fine to settle claims it overcharged customers for auto insurance and home loans.
