Employment Rose 2.5 Million in May
Total nonfarm payroll employment rose by 2.5 million in May, according to the Bureau of Labor Statistics. Total unemployed persons...
Newsbytes
FHA Announces Temporary Policy for Insuring Mortgages in COVID-19 Forbearance
The Federal Housing Administration yesterday announced a temporary policy for lenders to obtain FHA insurance endorsements on mortgages where the...
Bipartisan Group of Senators Call for FSOC Study on CECL
A bipartisan group of senators yesterday urged Treasury Secretary Steven Mnuchin to direct the Financial Stability Oversight Council to conduct...
CFPB Proposes Reg Z Changes for Libor Transition
As part of the planned transition away from the London Interbank Offered Rate—which is not guaranteed to be available after...
CFPB Provides Flexibility on Electronic Card Disclosures During Pandemic
The CFPB yesterday issued a statement providing temporary flexibility for credit card issuers when providing electronic versions of disclosures that...
OCC Issues Proposals on Bank Activities, Innovation
The OCC today proposed changes to its rules for national bank and federal savings association activities and operations to ensure...
International Trade Balance Widened in April
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was...
Stewart Provides PPP Update in NPR Interview
In an follow-up interview with NPR’s Marketplace radio program today, ABA Chair Laurie Stewart discussed her bank’s experience with round...
Senate Sends PPP Flexibility Bill to President
The Senate tonight unanimously passed a bipartisan bill that would provide greater flexibility for Paycheck Protection Program borrowers.
Powell: Ameribor ‘Fully Appropriate’ for Banks When It Reflects Cost of Funding
While the Federal Reserve continues to support the Secured Overnight Financing Rate as the Alternative Reference Rates Committee’s preferred alternative...
