Newsbytes

Second Quarter GDP Upwardly Revised from 2.6% to 3.0%

Real GDP for the second quarter of 2017 grew at a seasonally adjusted annual rate of 3.0%, according to the Bureau of Economic Analysis’s revised estimate, up from the advance estimate of 2.6%. The general picture of economic growth remained the same. Last quarter’s growth was the strongest since the first quarter of 2015. The increase in the estimate was ...

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ADP: 237,000 Jobs Added in August

The non-farm private sector added 237,000 jobs in August, according to the ADP National Employment Report. July’s figure was revised up from 178,000 to 201,000. The trade, transportation and utilities job sector accounted for 23.6% of August’s growth. Businesses of all sizes saw steady increases. Small businesses with fewer than 50 employees rebounded from added 48,000 jobs, while medium-sized businesses ...

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ABA Urges Bankers to Support Harvey Relief Effort

ABA President and CEO Rob Nichols today called on bankers to join ABA in supporting the response to Hurricane Harvey on the Gulf Coast and invited them to contribute to the Hurricane Harvey Relief Fund set up by the Texas Bankers Association and the Independent Bankers Association of Texas.

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ABA, Groups Oppose Language Preference Question on URLA

ABA and several financial trade groups today again cautioned the Federal Housing Finance Agency against adding a question about borrowers’ language preference to the Universal Residential Loan Application without more in-depth consideration of the legal implications of doing so.

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CFPB Announces 2018 Reg Z Dollar Thresholds

The Consumer Financial Protection Bureau today announced 2018 changes in dollar thresholds for several Regulation Z provisions governed by the CARD Act, the Home Ownership and Equity Protection Act and the Dodd-Frank Act. The thresholds are based on changes in the Consumer Price Index.

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Consumer Confidence Strengthened in August

The Conference Board Consumer Confidence Index increased 2.9 points to 122.9 in August, the second consecutive monthly increase, though last month’s index was downwardly revised from 121.1 to 120.0. The Present Situation Index rose 5.8 points to 151.2, the fourth consecutive monthly increase. The Expectations Index grew 1.0 point to 104.0 after posting a 3.4 point increase in July. “Consumer ...

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ABA Weighs in on Proposed Call Report Revisions

The American Bankers Association today responded to the regulatory agencies’ request for comment on further revisions to the Call Report that would simplify the report for banks by removing or consolidating a number of existing data items, reducing the reporting frequency for other data items and increasing certain reporting thresholds.

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