Weekly Infobyte: Cost of Credit Rose after CARD Act

The Federal Reserve Bank of Philadelphia's next president and CEO will be economist Anna Paulson, succeeding Patrick Harker on July 1.

ABA urged the current leadership of the CFPB “to restore balance to the policy conversation about the credit card market” following several actions taken by the prior administration to weaponize the bureau against credit card services and products.

The Trump administration sent layoff notices to more than 1,500 staff at the CFPB, leaving only 200 personnel at the bureau, Fox Business reported.

The rate for a 30-year fixed-rate mortgage was 6.83% this week. The rate for a 15-year fixed-rate mortgage was 6.03%.

Three House lawmakers are asking the IRS to update and expand the list of services and treatments for chronic diseases covered under employer-sponsored high-deductible health plans.

ABA is asking Congress to include legislation to help farmers and rural communications in its budget reconciliation process, pointing to the increasingly difficult economic situation facing many farmers and ranchers.