Articles

ProBank Austin Advisor

July 26, 2021 - 1 min read

A big week for data will cause volatility in both stock and bond prices. A huge amount of data will be released this week. This data should provide evidence of the strength of the rebound from re-opening from the pandemic. As recently as a month ago, forecasts called for growth of better than 10% for…

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ProBank Austin Advisor

July 19, 2021 - 1 min read

Investors continue to worry about the strength and length of the recovery. The strength and sustainability of the economic rebound continues to weigh on financial markets. The risk is growth slows in the second half of this year after the huge surge in Real GDP in the first half. The Federal Reserve has fed these…

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ProBank Austin Advisor

July 12, 2021 - 1 min read

The inflation data due out this week will be high but no one seems to care. The limited data released last week did nothing to resolve the caution investors are taking about the future course of economic recovery. The JOLTS data still reflects a record level of unfilled job openings. This condition limits the ability…

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ProBank Austin Advisor

July 6, 2021 - 1 min read

Uneven data releases add to the caution the Fed has been operating under. Conflicting data was released last week. The strong data included a large increase in consumer confidence and nonfarm payroll growth. The weaker data included motor vehicle sales, the unemployment rate, and trade deficit. It is weeks like this that makes determining the…

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ProBank Austin Advisor

June 28, 2021 - 1 min read

Economic conditions are beginning to reach a point where the new normal can be defined. The U.S. economy is rapidly reaching a stable condition where determinations can be made as to the nature of the environment post-pandemic. Personal income, spending and inflation for May were released last week. While the economy was not fully opened…

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ProBank Austin Advisor

June 21, 2021 - 1 min read

The view that inflation is temporary continues to drive the bond market and the Fed. The FOMC meeting did have an impact on financial markets last week. Stocks declined and bond prices increased. The Fed did not change its current accommodative monetary policy position and did not issue any real change in guidance as to…

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Juneteenth Independence Day Act – Effective Immediately

June 21, 2021 - 4 min read

On June 17, 2021, President Biden signed into law the Juneteenth Independence Day Act, making June 19th the eleventh named, federal holiday under 5 U.S.C. 6103(a), “ Juneteenth Independence Day, June 19.” There is no requirement to promulgate regulations to implement the new federal holiday. As such, it became effectively immediately. The Federal Reserve did…

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CFPB Issues Special Edition of Supervisory Highlights for COVID-19 Prioritized Assessments

June 21, 2021 - 6 min read

The Consumer Financial Protection Bureau (CFPB) published a Special Edition of Supervisory Highlights to share its observations in its prioritized assessment supervisory work conducted last year after the sudden onset of the COVID-19 pandemic. These assessments focused on assessing risks to consumers resulting from the pandemic. In May of 2020, the CPFB rescheduled about half of…

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CFPB Rescinds Temporary Policy Statements

June 16, 2021 - 4 min read

Following the onset of the COVID-19 pandemic, the Consumer Financial Protection Bureau (CFPB) issued a number of policy statements to provide temporary flexibilities and guidance for financial institutions in consumer financial markets, including mortgages, credit cards, credit reporting and prepaid cards, on complying with their legal and regulatory obligations. Effective April 1, 2021, the CFPB…

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The Great Pandemic-Induced Delivery Channel Transformation of 2021

June 15, 2021 - 10 min read

2020 was the year of the great pivot.  Nearly every service industry pivoted from in-person service to something less personal, less interactive, and less direct.  Now that we are anticipating an expiration date on the pandemic, the pivoting continues for bank management.  This time, however, the pivot is how bankers are viewing their branch network. …

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