Newsbytes

Retail Sales Rose in December

There were $469.1 billion in retail and food service sales in December, up 0.6% from the previous month and 4.1% from December 2015, according to the U.S. Census Bureau. Core retail sales – excluding automobiles and parts – increased 0.2% after rising at the same rate in November. Year-over-year core sales increased 3.4%. Retail trade sales increased 0.8% from November ...

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HUD Nominee Carson to Take ‘Holistic’ Approach to Housing

Testifying before the Senate Banking Committee today, Housing and Urban Development secretary nominee Dr. Benjamin Carson said he would take a “holistic” approach to affordable housing if confirmed, noting that many factors -- such as healthcare and education -- must be considered when tackling issues affecting low-income Americans.

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CFPB Releases Debt Collection Survey

The Consumer Financial Protection Bureau today released a report on consumer experiences with debt collection, relying upon surveys of consumers regarding their experiences with both first-party and third-party debt collectors.

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CU Member Business Lending Bill Introduced

Reps. Ed Royce (R-Calif.), Jared Huffman (D-Calif.), Don Young (R-Alaska) and Peter DeFazio (D-Ore.) yesterday introduced an ABA-opposed bill (H.R. 389) that would exclude non-owner occupied, 1-4-family dwellings from the calculation of the cap on credit union member business loans.

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House Dems to Trump: Don’t Fire Cordray

A day after two Republican senators petitioned President-Elect Trump to dismiss Consumer Financial Protection Bureau Director Richard Cordray after taking office, several House Democrats wrote to the president-elect opposing such a move.

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Small Business Optimism Soared in December

The NFIB Small Business Optimism Index posted a strong increase of 7.4 points in December to 105.8, the highest reading in twelve years. Seven of the ten index components rose, while two declined and one was unchanged. Even with the increased optimism, reported job creation remained weak in December, as only 51% of businesses reported hiring or trying to hire. ...

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