Browsing: Newsbytes

Economy

Producer prices fell 0.4 percent in April, seasonally adjusted, according to the U.S. Bureau of Labor Statistics, after increasing 0.2 percent in March.

Compliance and Risk

Mortgage bankers preparing for the implementation of the TILA-RESPA integrated disclosures are uncertain that they and their vendors will be ready for the switchover to the new disclosure regime, which takes place for all mortgage applications starting Aug. 1, according to an ABA survey released today.

Mortgage

After hearing from Federal Home Loan Banks that uncertainty about affordable housing goals is limiting their mortgage purchases from member institutions, the Federal Housing Finance Agency will revisit the goals, FHFA Director Mel Watt said today.

Economy

There were $436.8 billion of food and retail sales in April (after adjustment of seasonal variation and holiday and trading-day differences, but not for price changes), according to the U.S. Census Bureau.

Compliance and Risk

In a comment letter filed this week, ABA and the Clearing House expressed their support to the Financial Crimes Enforcement Network’s goal on protecting the U.S. financial system from money laundering, terrorist financing and financial crimes, but offered suggestions on FinCEN’s proposal to impose special measures against Banca Privada d’Andorra.

Compliance and Risk

Responding to industry concerns that their Bank Secrecy Act reporting goes unread or unused, the Financial Crimes Enforcement Network yesterday spotlighted six law enforcement cases in which prosecutors made effective use of BSA data to win. The inaugural Law Enforcement Awards were conceived as a way to show financial institutions that their reports are not “going

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