The Bureau of Economic Analysis released it preliminary estimate of first quarter gross domestic product Thursday, and the 0.5% annual growth rate was even weaker than the 1.25% forecast of CUNA’s economists.
NEW YORK (2/3/16)--For selling faulty mortgage bonds to three banks that failed in the aftermath of the housing crash, Morgan Stanley agreed to pay nearly $63 million in penalties to the Federal Deposit Insurance Corp. this week
MADISON, Wis. (2/1/16)--Gross domestic product growth will climb 2.75% in 2016 and the Federal Reserve will hike interest rates to 1.25% by year’s end, according to CUNA’s Economic Forecast, released Friday.
WASHINGTON (1/28/16)--Predictions that the Federal Reserve would raise interest rates four times in 2016 were all but dashed Wednesday when the Federal Open Market Committee released its lukewarm policy statement.
WASHINGTON (1/27/16, UPDATED 2:30 p.m. ET)--Don’t count out the doves just yet. The Federal Open Market Committee appeared to finally heed warnings by those on the board who are concerned with the sluggish pace of inflation that has dogged the economy recently.
The discussion boards on CUNA’s Compliance Community featured an interesting discussion last week: what is the difference between the terms “share draft” and “checking account”? The correct use is important since credit unions pay dividends, not interest.