Browsing: Newsbytes

Mortgage

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.

Economy

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

Newsbytes

With a provision that would reduce the dividends paid on Federal Reserve Bank stock to Fed member banks still included in the Senate’s Highway Trust Fund reauthorization bill, ABA and four other trade groups representing the entire banking industry yesterday urged House leaders to reject the revenue-raising provision.

Economy

In their post-meeting statement, The Federal Reserve Open Market Committee (FOMC) noted that economic activity expanded moderately in recent months, citing moderate growth in household spending as well as improvement in the housing sector. The FOMC also cited continued improvement in the labor market, noting that “underutilization of labor resources has diminished since early this

Human Resources

ABA is seeking banker input on how the Department of Labor’s controversial overtime proposal — which would more than double the current salary necessary for employees to be exempt from overtime and will affect most banks in the country — would affect their banks.

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