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.
WASHINGTON (1/26/16)--Blizzard conditions in the nation’s capital will not postpone this week’s Federal Open Market Committee meeting, the Federal Reserve announced Monday. Nor will they cool the majority of the committee’s sentiment on the health of the economy.
WASHINGTON (1/25/16)--Delayed closings pushed back by implementation of the Truth in Lending and Real Estate Settlement Procedures Act integrated disclosure rule drove a surging pace of existing-home sales in December, according to the National Association of Realtors.
SAN FRANCISCO (1/20/16)--Wells Fargo is now the third-largest bank in the United States by assets. The San Francisco-based behemoth surpassed Citigroup this year, according to a report from The Wall Street Journal.
WASHINGTON (1/19/16)--Bottomed-out oil prices continue to influence consumer activity, as illustrated by three reports released Friday that provide a compressive glimpse into the state of U.S. consumerism.
Consumer Financial Protection Bureau Director Richard Cordray will step down from the agency by the end of the month after serving since 2013. CUNA President/CEO Jim Nussle said CUNA looks forward to a new era at the bureau, one that takes credit unions’ structure and purpose into account during rulemakings.
Credit unions now have less than six months to come into compliance with FinCEN's Customer Due Diligence rule, effective May 11, 2018, which includes provisions on identifying the beneficial owners of legal entity accounts.