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An article on the CFPB Blog notes that it may be difficult for incarcerated individuals to monitor personal accounts or credit reports. Individuals who can’t monitor their credit reports could face an increased risk of fraud or identity theft. Errors or other problems on a credit report can create a barrier for those seeking employment or housing, accessing credit, and can lead to other financial difficulties. The Bureau has released a tip sheet to help currently and recently incarcerated consumers protect their credit files and help eliminate unnecessary barriers to a successful transition to jobs or housing after these individuals serve their sentence.

The CFPB has unveiled its student loan "Payback Playbook," a set of prototype disclosures [PDF; download before opening] that outline a path to affordable payments for borrowers trying to avoid student debt distress. The Payback Playbook provides borrowers with personalized information about their repayment options from loan servicers so they can secure a monthly payment they can afford. The Payback Playbook would be available to borrowers on their monthly bills, in regular email communications from their student loan servicers, or when they log into their student loan accounts. The proposed features will include: personalized payment options; no fine print; and real-time, up-to-date information. The CFPB has posted a public request for comments, which can be submitted online. Prepared remarks from Director Cordray on the Payback Playbook were also released.

The FHFA has released its March index, which shows mortgage interest rates decreased from February according to several indices of new mortgage contracts. The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 3.73 percent for loans closed in late March, down 15 basis points. The average interest rate on all mortgage loans was 3.76 percent, down 13 basis points. The average interest rate on conventional, 30-year, fixed-rate mortgages of $417,000 or less was 3.95 percent, down 16 basis points. The effective interest rate on all mortgage loans was 3.88 percent in March, down 15 basis points. The effective interest rate accounts for the addition of initial fees and charges over the life of the mortgage. The average loan amount for all loans was $325,000 in March, up $8,300.

HUD has announced a $22,600 Conciliation Agreement between Housing Equality Law Project and the owners and managers of a San Diego-based property management company, settling allegations that they discriminated against persons with disabilities who required the use of assistance animals. The Fair Housing Act prohibits housing providers from denying or limiting housing to persons with disabilities or from refusing to make reasonable accommodations in policies or practices. This includes waiving no pet policies for assistance or service animals.

HUD has announced it is charging the owner of a Springfield, Massachusetts, rental property with violating the Fair Housing Act. The charges allege that the landlord told the family that he would not rent an apartment to them because they had a child under the age of six and were also expecting another baby. They further allege that the landlord had a policy prohibiting children younger than six from residing on the premises and requiring pregnant women to notify the landlord and vacate their apartment. HUD also claims that almost immediately after the complainants filed their complaint with HUD, the landlord began eviction proceedings against them and the wife’s mother.

The Federal Reserve Board has released the statement issued by the Federal Open Market Committee (FOMC) after its March 2016 meeting. The Committee decided to maintain the target range for the federal funds rate at 1/4 to 1/2 percent.

The Consumer Financial Protection Bureau has published in today's Federal Register a final rule making final each of the following interim final rules it published in December 2011, subject to intervening amendments: 12 CFR Parts 1002 (Regulation B), 1003 (Regulation C), 1005 (Regulation E), 1006 (Regulation F), 1007 (Regulation G), 1008 (Regulation H), 1009 (Regulation I), 1010 (Regulation J), 1011 (Regulation K), 1012 (Regulation L), 1013 (Regulation M), 1014 (Regulation N), 1015 (Regulation O), 1016 (Regulation P), 1022 (Regulation V), 1024 (Regulation X), 1026 (Regulation Z), and 1030 (Regulation DD). The rule is effective today, with its publication.

The Consumer Financial Protection Bureau has added two new resources to its Regulatory Implementation page:

• Fact sheet for small creditors operating in rural or underserved areas
• Chart on eligibility for making various types of qualified mortgages

The CFPB has released its latest monthly consumer complaint snapshot, this time highlighting consumer complaints related to mortgages. The report shows that consumers continue to encounter servicing problems when they are unable to make payments. This month’s snapshot also highlights trends seen in complaints coming from California.

The Federal Housing Finance Agency (FHFA) has announced its approval of a proposed rule that would, if the proposal is also approved by the Federal Deposit Insurance Corporation, the National Credit Union Association, the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, and the U.S. Securities and Exchange Commission, revise the proposed rule the Agencies published in the Federal Register on April 14, 2011, to implement section 956 of the Dodd-Frank Act. Section 956 generally requires that the Agencies jointly issue regulations or guidelines: (1) prohibiting incentive-based payment arrangements that the Agencies determine encourage inappropriate risks by certain financial institutions by providing excessive compensation or that could lead to material financial loss; and (2) requiring those financial institutions to disclose information concerning incentive-based compensation arrangements to the appropriate Federal regulator. Comptroller Curry issued a statement on the proposal before the FDIC Board approved the proposal.

Update: Published at 81 FR 37669, on 6/10/16, in the Federal Register. Comments due by July 22, 2016.