Newsbytes

ABA Seeks Safe Harbor for Banks in Insurance Model Law

The American Bankers Association last week urged the National Association of Insurance Commissioners to provide a safe harbor for banks and their affiliates in the insurance distribution business in its “suitability in annuity transactions” model law.

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Home Builder Confidence Stays Strong in February

The National Association of Home Builders/Wells Fargo Housing Market Index rose four points to 62 in February. For the second consecutive month, home builders cited declining mortgage rates among the chief reasons for the increase. “Ongoing reduction in mortgage rates in recent weeks coupled with continued strength in the job market are helping to fuel builder sentiment,” said NAHB Chairman ...

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Nichols Op-Ed: Banks Want Clarity on ‘Cannabis Conundrum’

With cannabis now legal in 33 states and the District of Columbia, an overwhelming number of banks – 99 percent, according to a recent ABA survey -- want Congress to take action to address the gap between state and federal law that prevents banks from serving marijuana-related businesses in states that have legalized the drug.

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Retail Sales Down 1.2 Percent in December

There was $505.8 billion in retail and food service sales in December, down 1.2 percent from the previous month but up 2.1 percent from December 2017, according to the U.S. Census Bureau. Core retail sales – excluding automobiles and parts – declined 1.8 percent. Year-over-year core sales increased 2.0 percent. Retail trade sales declined 1.3 percent from November but are ...

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