Advance estimates of U.S. retail and food services sales for March were $752.1 billion, up 1.7% from the previous month, and up 4% from a year ago, according to the U.S. Census Bureau.
Core retail sales — excluding automobiles, parts, and gasoline — increased 1.9% in March and increased 4.2% from a year ago.
ABA joined four other associations to express support for proposed reforms to the CFPB's regulations of the mortgage industry.
The rate for a 30-year fixed-rate mortgage was 6.51% this week. The rate for a 15-year fixed-rate mortgage was 5.85%.
As part of a cross-sector push to improve consumer financial health, financial institutions will need to prioritize creating products and services that help vulnerable customers and commit to measurement and sharing best practices, Federal Reserve Governor Michael Barr...
If builders continue to scale back single-family production, construction activity and the mortgage pipeline are likely to soften. In contrast, modest annual growth in multifamily development is expected to provide some support for construction loan demand among banks.
After previously seeking public input on the idea, the Federal Reserve issued a formal proposal for establishing payment accounts and will seek further comment.
As more states weigh laws to restrict interchange fees, the OCC will continue to defend federal preemption in courtrooms "as appropriate," Comptroller Jonathan Gould said. He also defended the OCC’s decision to grant national trust charters to entities...
