Browsing: Newsbytes

Economy

New orders for manufactured durable goods increased 6.5% in June to $245.6 billion, following a 0.1% May decrease, according to the U.S. Census Bureau. New orders excluding defense grew 6.7% on the month, while orders of nondefense capital goods jumped 21.0% to $84.6 billion. Shipments of manufactured durable goods, down in three of the last

Economy

At its meeting that concluded yesterday, the Federal Open Market Committee said it plans to begin “relatively soon” to reduce the Fed’s balance sheet, which is swollen with $4.5 trillion in securities purchased as part of quantitative easing programs between 2008 and 2014. According to a statement from the FOMC released yesterday, the committee said

Economy

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

Compliance and Risk

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.

Community Banking

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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