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.
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.