Browsing: Newsbytes

Economy

Housing starts in April rose to a seasonally adjusted annual rate of 1.135 million, 20.2 percent above the revised March estimate of 944,000 and 9.2 percent above the April 2014 rate of 1.039 million. Single-family housing starts grew at a rate of 733,000, 16.7% above the revised March figure of 628,000.

Newsbytes

NACHA, the electronic payments association, today announced that its members voted to finalize a rule change that will accelerate ACH settlement, introducing two extra windows during weekdays — morning and afternoon — for credit transactions. The rule provides for fees so that receiving financial institutions can recover costs associated with handling same-day ACH.

Human Resources

Last month, we advised readers that a Texas federal district court had enjoined the Department of Labor from enforcing its FMLA same-sex spouse rule in Texas, Arkansas, Louisiana and Nebraska. DOL’s final rule change updated the regulatory definition of “spouse” in the Family and Medical Leave Act in keeping with the U.S. Supreme Court‘s ruling in United States v. Windsor.

Compliance and Risk

In remarks at the 2015 Bank Secrecy Act Conference in Las Vegas, Nevada on June 18, the Financial Crimes Enforcement Network’s (FinCEN) associate director of enforcement, Stephanie Brooker, focused on three main points: the importance of Bank Secrecy Act (BSA) and Suspicious Activity Report (SAR) filings; FinCEN’s enforcement approach; and promoting a strong culture of compliance in the financial industry.

Newsbytes

The SEC has released a series of frequently asked questions on its 2014 reforms of money market mutual funds. The FAQs represent staff views on the new rules and address a number of issues including which investors would be eligible to invest in retail prime money market funds starting in October 2016 when the reforms take effect.

1 938 939 940 941 942 963