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NAFCU awaits Senate reg reform bill
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NAFCU is awaiting the release of new financial industry regulation reform legislation today that would likely create a consumer protection agency within the Federal Reserve with its own regulatory and enforcement authorities and perhaps include some checks and balances with the functional regulators.
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Senators talk reg reform issues at CFA
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Sens. Jack Reed, D-R.I., and Robert Menendez, D-N.J., both of the Senate Banking Committee, spoke last week of crucial issues related to financial services regulatory reform during the Consumer Federation of America’s Consumer Assembly in Washington.
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Foreclosure filings decline by 2% in February
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U.S. foreclosure filings were down 2 percent in February, but a March 12 news story in The Washington Post notes that a new wave of foreclosures may be just around the corner.
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Stevens backs planned program reforms
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Federal Housing Administration Commissioner David Stevens told a House panel last week that the agency’s consideration of future risks in the housing market is driving the need to increase premiums for FHA loans.
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Retail sales rise unexpectedly in February
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February’s unexpected retail sales increase may ease some concerns that a drop in consumer spending could endanger the slow economic recovery, NAFCU Staff Economist Katrin O’Connor said Friday.
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Household wealth improves in 4Q
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Improvements in the stock market are helping Americans recover some of their lost wealth, as evidenced by fourth-quarter 2009 data from the Federal Reserve, which show household net worth rose 1.3 percent to $54.2 trillion.
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