The Senate yesterday passed a three-month extension to the Highway Trust Fund that the House had passed on Wednesday, providing both houses of Congress with more time to resolve differences about how to fund a longer-term roads bill.
Consumer Confidence fell to 93.1 in July, down 3 points from the previous month according to the University of Michigan Consumer Sentiment index. The index is currently 11.3 points higher than in July of 2014. “A disappointing pace of economic growth was the main reason for the small decline in consumer confidence. Nonetheless, the data
MasterCard has announced several changes to its Account Data Compromise program, increasing and accelerating reimbursements for costs incurred by card issuers after data breaches.
Nearly half of all banks outsource at least one compliance obligation. For those that do, the most commonly outsourced are compliance audit and fair lending reviews.
Large bank mortgage servicers overall notched higher customer satisfaction ratings than large nonbank servicers, according to the 2015 J.D. Power study of consumer satisfaction with their primary mortgage servicers. Customers gave bank servicers on average 731 points out of 1,000, while nonbanks notched on average 658 points.
FCS data show that the system’s lending to young, beginning and small farmers and ranchers is merely lip service.
ABA today announced that John Kinsella has been named its new VP for tax policy. Kinsella joined ABA from U.S. Bancorp, where he was SVP and director of taxation.
Real GDP for the second quarter grew at an annual rate of 2.3 percent according to the Bureau of Economic Analysis’s advance estimate. The growth reflected acceleration in personal consumption expenditures and net exports, as well as increases in state and local government spending. Personal consumption was the largest positive contributor to GDP – contributing
With bipartisan majorities, the House Financial Services Committee yesterday passed several bills that are part of ABA’s Agenda for America’s Hometown Banks.
A bipartisan group of 21 House members yesterday called on the Department of Labor to re-propose its controversial proposal redefining who counts as a fiduciary now that the comment period has closed.