Consumer sentiment decreased 2.6 points month-over-month in November to 51, down 20.8 points from one year ago, according to final results for the month from the University of Michigan Surveys of Consumers.
The Federal Reserve has extended by a month the comment period for a proposed rule to make stress tests for large banks more transparent.
The CFPB plans to furlough most of its staff on Dec. 31 and transfer its remaining litigation to the Justice Department, according to the news site Government Executive.
ABA and 52 state bankers associations expressed support for two bills that would raise Bank Secrecy Act reporting thresholds for currency transaction reports and suspicious activity reports, and they urged federal officials to explore further reforms.
The IRS has removed a controversial rule in a new regulation implementing a 1% excise tax on certain types of stock repurchases after ABA and others raised concerns that the language was too broad.
FATF’s list of high-risk jurisdictions subject to a call for action remains the same, with Iran, North Korea and Burma subject to calls for action.
