ABA Salutes Banks on ‘Best Banks to Work For’ List

FinCEN issued an alert urging financial institutions to identify and report fraud associated with federal child nutrition programs in Minnesota, and it released a geographic targeting order directing banks and money transmitters in two Minnesota counties to report...

Total nonfarm payroll employment increased (+50,000) according to the U.S. Bureau of Labor Statistics. The unemployment rate, at 4.4%, edged down from November’s revised rate of 4.5%.

The CFPB and Department of Justice plan to withdraw 2023 guidance warning financial institutions that they risk violating federal protections against discrimination if they rely on immigration status to determine a consumer’s creditworthiness.

The OCC is proposing to amend its chartering regulations to clarify that national banks limited to the operations of trust companies may engage in nonfiduciary activities.

Consumer credit increased at a seasonally adjusted annual rate of 1% in November. Total outstanding credit increased to $5,084.8 trillion during the month, up 0.1% from October’s revised total of $5,080.6 trillion.

The rate for a 30-year fixed-rate mortgage was 6.16% this week. The rate for a 15-year fixed-rate mortgage was 5.46%.