Rising wages and savings rates resulted in a decline in past-due payments in the second quarter, the American Bankers Association said in its quarterly report on delinquency trends in consumer lending.
Credit unions historically have focused on laws that directly pertain to them, but in a break with that tradition, NAFCU is calling on Congress to re-introduce efforts to break up big banks.
The House appropriations bill would also expedite the appeals process for CFPB examination decisions and reduce the number of times big banks must submit resolution plans to every two years.
The recent decision involved sales taxes, but Wells Fargo recorded a net expense of $481 million under the assumption that it will also lead to higher state income taxes. Other banks may have to follow suit.
The American Bankers Association will run advertisements in support of Reps. French Hill and Bruce Poliquin, who are incumbents this November. The group has now endorsed three Republicans and a Democrat.
Once again, congressional inaction on reauthorizing the National Flood Insurance Program is prompting concerns about what a lapse in coverage could mean for loan closings.
