As the U.S. economy dove deeper into recession amid the coronavirus pandemic in the second quarter, more than half of banks reported weaker demand for commercial and industrial loans, according to the Federal Reserve’s latest survey of senior loan officers released yesterday.
As part of the planned transition away from the London Interbank Offered Rate—which is not guaranteed to be available after 2021—the Consumer Financial Protection Bureau today proposed a rule addressing the rate transition and Regulation Z.
Outstanding household debt increased by 1.1% in the first quarter of 2020, rising by $155 billion to land at $14.3 trillion, the Federal Reserve Bank of New York reported today.
A small net percentage of banks reported easing standards and terms for loans to large and midsize firms in the previous quarter, while on net no banks eased standards for small businesses, according to the Federal Reserve’s latest senior loan officer opinion survey released today.
…and more insights from ABA’s Compliance Center Inbox in the next issue of the ABA Banking Journal.
To enable banks to offer a full range of mortgage products, ABA has endorsed the comprehensive mortgage fulfillment solution provided by Promontory Fulfillment Services, a unit of Promontory MortgagePath.
Outstanding household debt increased by 0.5 percent in the first quarter of 2018, rising by $63 billion to land at $13.21 trillion, the Federal Reserve Bank of New York said yesterday.
Outstanding household debt increased by 1.5 percent in the fourth quarter of 2017, rising by $193 billion to land at $13.15 trillion, the Federal Reserve Bank of New York said today.
Delinquencies in many types of closed-end loans and home equity lines of credit rose in the third quarter of 2017, while bank card delinquencies fell, according to the ABA Consumer Credit Delinquency Bulletin released today.
The Consumer Financial Protection Bureau today issued a final rule making several technical corrections and clarifications to the expanded data collection under Regulation C, which implements the Home Mortgage Disclosure Act, as well as temporarily raising the threshold at which banks are required to report data on home equity lines of credit.