Newsbytes

ABA Commends Congressional Effort to Reform Dodd-Frank

As the House Financial Services Committee prepares to begin the markup of the Financial Choice Act tomorrow, ABA President and CEO Rob Nichols wrote to committee leadership commending them for their efforts to address the negative consequences of the Dodd-Frank Act.

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Construction Spending Decreased in March

Construction spending decreased 0.2% in March to a seasonally adjusted annual level (SAAL) of $1,218.3 billion, according to the Census Bureau. February’s spending estimate was revised to a rate of $1,220.7 billion. March’s figure is 3.6% greater than the March 2016 estimate of $1,176.4 billion. Total private construction was $940.2 billion SAAL, nearly the same as the revised February estimate ...

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Manufacturing Sector Expanded in April

The ISM Manufacturing Index registered 54.8 points in April, down 2.4 percentage points from the previous month, according to the Institute for Supply Management. April’s reading indicates an eighth consecutive month of expansion in manufacturing, as readings over 50 points denote expansion. Of the eighteen manufacturing industries, sixteen reported growth while one reported contraction. The Employment Index decreased 6.9 points ...

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2017 ABA Nominating Committee

In accordance with ABA’s Bylaws, a Nominating Committee has been appointed by ABA Chairman Dorothy Savarese to recommend a slate of candidates for the 2017-2018 association year for each of ABA’s elective offices and for members to serve on the Board of Directors. Savarese is also chairman, president and CEO of Cape Cod Five Cents Savings Bank in Orleans, Mass. ...

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ABA Calls for Better Rules to Encourage Small-Dollar Credit

In a sixth white paper to the Treasury Department today, ABA highlighted the important role that small-dollar credit plays in helping consumers meet their financial needs, and called on regulators to remove barriers that impede banks from making small-dollar loans.

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