Newsbytes

Sen. Brown Hopeful that Days of Banking Committee ‘Dysfunction’ Over

In remarks to the general session of ABA’s Government Relations Summit today, Senator Sherrod Brown (D-Ohio) said that “the days of the Senate Banking Committee and its dysfunction and its less-than-busy work ethic, I hope, are behind us,” expressing his optimism for bipartisan cooperation as Congress pursues pro-growth policies.

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N.Y. Fed Sees Decline in Credit Rejection Rates

Individuals who have applied for credit reported higher lower rejection rates in February than they reported in October, according to the Federal Reserve Bank of New York’s latest Credit Access Survey released today, which gauges consumers’ experiences and expectations regarding credit over the previous year. The results show that rejection rates dropped to 8.5 percent of those who applied for ...

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DOJ Reverses Position on CFPB Structure in Amicus Brief

In an amicus brief filed in the case of PHH Mortgage v. Consumer Financial Protection Bureau on Friday, the Department of Justice reversed its position on the constitutionality of the CFPB’s structure, asserting that the Bureau’s structure with a single director removable only “for cause” should be invalidated.

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Industrial Production Unchanged in February

Industrial production was unchanged in February after decreasing 0.1% in January. Over the last year, industrial production was up 0.3%. Manufacturing output increased 0.5% in February, the same increase as January. Production of durable goods rose 0.6%, while nondurables rose 0.4% during the month. Capacity utilization for manufacturing increased by 0.3 percentage point to 75.6%, a rate that is 2.8 ...

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