By a bipartisan 24-8 vote, the House Judiciary Committee yesterday approved the Innovation Act (H.R. 9), which would seek to reduce abuse of the patent system.
Producer prices rebounded in May, climbing 0.5 percent, seasonally adjusted, according to the U.S. Bureau of Labor Statistics, attributable to prices for final demand goods which rose 1.3 percent. This was the second monthly increase in the past six months. Producer prices fell 1.1 percent on a yearly basis.
Stonier recognized 220 graduates today, and ABA Chairman-Elect Dan Blanton reminded them of the importance of their Stonier education in shaping the industry’s future.
Since the CFPB’s mortgage rules took effect, more banks are exiting servicing.
Fourth-quarter credit card spending continued rising on strong employment numbers and the strength of the super-prime credit market, according to the latest edition of ABA’s Credit Card Market Monitor released today.
ABA has added a new online course on the TILA-RESPA integrated disclosures to its free Frontline Compliance Training program. Since all customer-facing staff who discuss mortgage products or take loan applications will need to understand and be able to explain the new TRID forms, this course is designed to provide bank employees with an overview of the new forms and requirements.
ABA and several other trade groups yesterday urged the House Financial Services Committee to advance H.R. 2213, a bipartisan bill that would establish a “hold harmless” period after the new TILA-RESPA integrated mortgage disclosures take effect on Aug. 1.
ABA submitted a statement for the record in today’s House Financial Services Committee hearing on protecting consumer financial choices.
The Consumer Financial Protection Bureau yesterday finalized a rule allowing it to supervise nonbank auto finance companies, giving the bureau more comprehensive oversight over the auto lending market.
Household net worth increased by $1.6 trillion during the first quarter of 2015 to $84.9 trillion, a 2 percent increase over the fourth quarter and a 5.7 percent increase from a year ago.