Newsbytes

New Home Sales Increased in June

New single-family home sales rose to a seasonally adjusted annual rate of 610,000 in June, according to the U.S. Census Bureau and the Department of Housing and Urban Development. The June level was 0.8% above the revised May rate of 605,000 and 9.1% above the June 2016 estimate. Sales grew in two regions, 10.0% in the Midwest and 12.5% in ...

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House Votes to Overturn Arbitration Rule

House lawmakers today voted to overturn the Consumer Financial Protection Bureau’s controversial final arbitration rule by a vote of 231 to 190, exercising their authority under the Congressional Review Act to reject new federal regulations within 60 legislative days of publication in the Federal Register.

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ABA Supports Bipartisan Reciprocal Deposit Bill

ABA wrote to Sen. Mark Warner (D-Va.) today in support of S. 1500, a bipartisan bill that would update Section 29 of the Federal Deposit Insurance Act to clarify that reciprocal deposits of another insured depository institution are not considered brokered deposits.

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ABA Calls for Changes to USDA Loans in 2018 Farm Bill

In a statement for the record in a Senate Agricultural Committee hearing on commodities, credit and crop insurance, ABA today called on lawmakers to reform the U.S. Department of Agriculture’s guaranteed farm loan programs in the 2018 Farm Bill.

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Consumer Confidence Grew in July

The Conference Board Consumer Confidence Index increased to 121.1 in July, rebounding from declines in the three preceding months. Last month’s index was downwardly revised from 118.9 to 117.3. The Present Situation Index rose 3.9 points to 146.3, the third consecutive monthly increase. The Expectations Index grew 3.7 points to 103.3 after declining in the three preceding months. “Consumer confidence ...

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