Sens. John Kennedy (R-La.) and Kevin Cramer (R-N.D.) today introduced the No Red and Blue Banks Act, which would prohibit the General Services Administration from “awarding contracts to certain insured depository institutions that avoid doing business with certain companies that are engaged in lawful commerce based solely on social policy considerations.” This restriction would only apply to contracts awarded after the bill takes effect.
In a letter, ABA said it is pleased with the CFPB's proposal to revise its small-business lending data rule and offered several recommendations to reduce the compliance burden for banks.
Despite recent softening and apprehension over price increases, consumer spending was robust over the month.
The CFPB is reversing course on its earlier decision to eliminate the procedures under which state officials must notify the bureau if those officials plan to enforce the Consumer Financial Protection Act.
The University of Michigan Consumer Sentiment Index increased 1.8% in July compared to the month prior, landing at 61.8, according to preliminary results for the month.
ABA joined four banking and credit union associations in raising concerns about a push by digital asset firms to establish national trust banks, saying there are significant policy and legal questions as to whether the applicants' proposed business...
Privately-owned housing units authorized by building permits in June increased to a seasonally adjusted annual rate of 1.397 million, according to the U.S. Department of Commerce.
