Welcome to the ABA Banking Journal newsletter, a free, twice-monthly supplement to the ABA Banking Journal magazine intended to help you stay on top of industry and policy news.
You can also stay abreast of banking news by visiting aba.com/BankingJournal, home to ABA Daily Newsbytes and other email bulletins.
Risk assets across the globe, despite already high valuations, have recovered impressively from a sell-off triggered by concerns about a North Korean nuclear attack. In doing so, they have again highlighted the extent to which traders and investors – highly confident about the environment they operate in – have developed endogenous stabilizers. (Bloomberg)
Visit https://www.bloomberg.com/view/articles/2017-08-17/good-reasons-to-dismiss-market-fears-for-now to view the full article online.
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"We look forward to working with the bureau to test the proposed new disclosures to make sure they improve consumer understanding," said Virginia O’Neill, senior vice president of the American Bankers Association’s center for regulatory compliance. (New York Times)
Visit https://www.nytimes.com/2017/08/11/business/banks-overdrafts-cfpb.html to view the full article online.
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Policy News
Outstanding household debt increased by 0.9 percent in the second quarter, rising by $114 billion to total $12.84 trillion, the Federal Reserve Bank of New York said today. The quarterly increase set a new record, coming one quarter after household debt topped its previous 2008 peak. (ABA Banking Journal)
Visit http://bankingjournal.aba.com/2017/08/n-y-fed-household-debt-reaches-12-84-trillion/ to view the full article online.
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For the first time since its launch in 2016, ABA is expanding its "Americas Banks" ad campaign beyond the Washington area. The campaign, which focuses on the important role banks play in their communities and the economy, will continue in Washington during the August congressional recess but also expand to select states across the country. (ABA Banking Journal)
Visit http://bankingjournal.aba.com/2017/08/aba-extends-americas-banks-ads-outside-beltway/ to view the full article online.
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There were $478.9 billion in retail and food service sales in July, up 0.6% from the previous month and 4.2% from July 2016, according to the U.S. Census Bureau. July’s retail sales were the largest gain in seven months. June’s number was upwardly revised to reflect 0.3% growth. (ABA Banking Journal)
Visit http://bankingjournal.aba.com/2017/08/retail-sales-jumped-to-7-month-high-in-july/ to view the full article online.
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