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 (1/14/16)--The housing sector improved, manufacturing fizzled, and nine out of the 12 U.S. districts tracked by the Federal Reserve experienced improving levels of economic activity, according to the Fed’s latest Beige Book.
WASHINGTON (1/12/16)--Rising confidence in personal financial situations may provide a spark for the housing market in the coming months, according to data from Fannie Mae’s recent home purchase sentiment index.
WASHINGTON (1/11/16)--The economy added 292,000 jobs in December, capping off a strong year for the job market and perhaps signaling a second interest rate increase by the Federal Reserve in the coming months.
WASHINGTON (1/7/16)--The Federal Open Market Committee’s decision to raise interest rates last month was unanimous. But the minutes from the meeting, released Wednesday, reveal more consternation than the undivided vote may seem to have implied.
CUNA’s compliance staff went back to basics in a recent CompBlog entry examining floor rates on variable-rate open-end loans. These rates are governed by the Credit Card Accountability and Disclosure (CARD) Act.