Housing starts decreased by 5.5% in May from the month prior to a seasonally adjusted annual rate of 1.28 million, the Commerce Department reported today. The rate was 10% below the May 2023 level. New building permits—an indicator of future demand—dropped 3.8% in May from the month prior and were 9.5% lower than last year.
Several congressional Republicans say they do not support a proposal by President Trump to redirect funds away from the CDFI Fund.
ABA joined a coalition of associations in voicing support for legislation to make permanent tax reforms that help U.S. companies compete against foreign firms.
President Trump has signed into law an ABA-championed resolution overturning the CFPB’s limits on overdraft fees.
The CFPB announced it is rescinding dozens of guidance documents on topics such as fair lending, overdraft fees, disclosure policies and consumer information requests to large banks and credit unions.
ABA and other plaintiffs said the court has already recognized that an Illinois law restricting certain interchange fees is preempted by federal law, so it should reject the state’s arguments against the court making a summary judgment in...
President Trump nominated former FDIC Board Member Jonathan McKernan as undersecretary of domestic finance at the Treasury Department. McKernan had been the nominee to lead the CFPB.
