Canfield Press <span>Blog</span>

Canfield Press Blog




Will FHFA Require Lenders to Ascertain Language Preferences in a Loan Application?

“When, if at all, should a mortgage lender or servicer be required to conduct business in a foreign language simply because the consumer has expressed a preference to communicate in a different language? Where does one draw the line in terms of both the number of languages and the scope of the tasks in which a lender should be prepared to conduct business at the request of the consumer? …[D]oes the consumer’s expressed language preference follow ownership of the loan or the mortgage servicing rights…?”

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Posted: July 20th, 2017 | Permalink

Is Banking Facing a "Kodak Moment"?

Banks face disruption that could cause a "Kodak moment" that renders them obsolete within the next 5-15 years.

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Posted: July 19th, 2017 | Permalink

The Federal Reserve Payments Study 2016

“Since 2000, consumers and businesses have substantially changed their payment choices, with check payments primarily being replaced with card payments and electronic transfers via the automated clearinghouse (ACH) system,” according to The Federal Reserve Payments Study 2016. “In 2015, checks written accounted for 13.4 percent of noncash payments and 15.4 percent of their value, compared with 57.8 per-cent of noncash payments and 66.7 percent of their value in 2000.”

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Posted: July 18th, 2017 | Permalink

The Auto Industry's New Ecosystem

“More than 50 companies are working on autonomous [car] systems,” according to CNBC. “103 electric vehicles will be launched by 2020. …In the ten key markets surveyed, each vehicle used in car sharing is likely replacing the need for 19 personal vehciles.”

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Posted: July 17th, 2017 | Permalink

The Thin Blue Line

“Cops are regular people who believe in the possibility of making this a safer world,” said NYPD Commissioner O’Neill. “It’s why we do what we do. It’s why we run toward, when others run away. [Police Officer Miosotis Familia] believed in the possibility of being part of something larger than herself. …[and] wanted other people to know her, to work with her, and to help her make this a better city for all of us. Everything our government stands for—freedom of speech, freedom of worship, freedom from want, freedom from fear—everything starts with public safety. Miosotis knew this, and she wanted all of us to play our part."

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Posted: July 14th, 2017 | Permalink

The Freedom to Run

“During the financial crisis, I …described the American economy as the ‘best looking horse in the glue factory’,” said former Dallas Fed President Richard Fisher. “Today, I look at the U.S. economy through a different equine lens. I have another visual of our potential: that of Secretariat at the Belmont stakes in 1973. …winning Belmont by an unimaginable 31 lengths... That is the American economy. … There’s no country, there’s no people, there’s nobody anywhere on the planet that can outpace us if we are given the freedom to run.”

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Posted: July 13th, 2017 | Permalink