Articles

TRID Construction FAQs

September 17, 2019 - 3 min read

On May 31, 2019, the CFPB released two new frequently asked questions (FAQs) to address the application of the TILA-RESPA Integrated Disclosure (TRID) rules to consumer construction loans. FAQ #1: Are construction-only loans or construction-permanent loans covered by the TRID Rule? Yes. Generally, a loan, including a construction-only and construction-permanent loan, is covered under TRID if…

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ProBank Austin Advisor

September 16, 2019 - 1 min read

A huge jump in market interest rates has occurred driven by foreign economic changes. If there was any doubt the U.S. bond market is being driven by factors outside the U.S., it was dispelled in the last two weeks. The yield on the ten-year treasury has risen by 41 basis points since its low on…

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Community Reinvestment Act

September 11, 2019 - 3 min read

 The Federal Deposit Insurance Corporation (FDIC) recently released their Community Reinvestment Act (CRA) exam schedule for the 3rd quarter of 2019. Whether your institution is on the exam schedule or not, it is important to keep up-to-date regarding knowledge of your assessment area. Below are useful resources for information regarding state, county, census tracts, and…

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ProBank Austin Advisor

September 9, 2019 - 1 min read

The labor market report for August was mixed with slower job growth but higher wages. The always important labor report released last Friday was a mixed bag. Nonfarm payrolls only increased by 130,000 in August aided by a 25,000 increase in government workers as census workers were included. In addition, the job growth data for…

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Revised Interagency Examination Procedures

September 4, 2019 - 1 min read

The Task Force on Consumer Compliance of the Federal Financial Institutions Examination Council (FFIEC)[1] recently developed interagency examination procedures relating to the creation of comprehensive consumer protections for prepaid accounts. These procedures reflect Consumer Financial Protection Bureau’s (CFPB’s) amendments to Regulations Z and E published in the Federal Register on November 22, 2016, April 25,…

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ProBank Austin Advisor

September 3, 2019 - 1 min read

The inverted yield curve has only gotten wider as fears of recession grow. Another week of solid economic data, volatile stock markets and declines in market interest rates. The trade war with China continues to drive investors towards an expectation of recession as a result of tariffs and weak global growth. As yet, those fears…

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Mutual Bank Quarterly Report

August 26, 2019 - 1 min read

Mutual Bank Performance Holds Steady Throughout the First Half ‘19 Mutual banks nationally experienced little change in key financial performance metrics for the first half of 2019 compared with first quarter results.  Mutual bank balance sheets nationally grew by 3.6 percent during the first half of 2019 compared with four percent during the first quarter…

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ProBank Austin Advisor

August 26, 2019 - 1 min read

The bond market continues to price another Fed cut in September. Investors continue to focus on the waves of news on the trade war. Fed Chairman Powell gave his annual speech to the Jackson Hole economic forum on Friday. He indicated the U.S. economy is in good condition with growth accelerating on the strength of…

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ProBank Austin Advisor

August 19, 2019 - 1 min read

Retail sales were much stronger than expected for July calling into question a recession. If the Federal Reserve is truly data dependent as they said they were after the rate cut in July, the retail sales data released last week would keep them on hold in September. The headline number was +0.7% for the month,…

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Michigan Banking Summary – Post Hoc Ergo Propter Hoc

August 16, 2019 - 8 min read

The title is a Latin phrase that effectively states, “after this, therefore because of this.” Succinctly, the reasoning that since event X followed event Y, then event X must have been caused by event Y. This informal fallacy is rooted in the belief that correlation is causation, consequently a conclusion based solely on the order…

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