Articles

ProBank Austin Advisor

September 20, 2021 - 1 min read

The Fed meets this week with all eyes on any change in tone coming out. The FOMC meets this week and will be under the microscope by financial markets. No one expects the Fed to change current accommodative monetary policy. Investors are looking for any change in the language in the statement released at the…

read article →

Not Necessarily as Bad as it May Appear

September 16, 2021 - 8 min read

The title of this quick missive could very easily relate to this week’s release of the latest inflation data. The Consumer Price Index (CPI) eased off the level reported in recent months, which had been a 13-year high, measuring 5.3% versus a year ago.  The 5.4% inflation rate recorded in June and July had been…

read article →

ProBank Austin Advisor

September 13, 2021 - 1 min read

The surge in the virus is causing us to revise the timing of economic growth The surge in the Delta virus is finally catching up with the economy. We are reducing our forecast for third quarter Real GDP growth from above 6% to 3.5% as a result of the impact of the virus. We now…

read article →

ProBank Austin Advisor

September 7, 2021 - 1 min read

The jobs data from last week provided ammunition for not changing current monetary policy. The Federal Reserve has said they achieved their target for inflation (some would argue they have surpassed the goal) but remain concerned about reaching their goal of full employment. The Labor Department’s report for August provided ammunition for those who believe…

read article →

Q2 Mutual Performance Data Virtually Unchanged From Q1

September 2, 2021 - 2 min read

There was little change in mutual performance data in a comparison of second quarter 2021 with first quarter 2021 results.  Mutual executives throughout the nation all cite the lack of loan growth, too much cash and net interest margins that continue in their narrow range. Net interest income, whether among Ohio mutuals or mutuals nationwide,…

read article →

ProBank Austin Advisor

August 30, 2021 - 1 min read

Guidance from the Fed did not change after the Jackson Hole forum speech. The much-anticipated speech at the Jackson Hole annual economic forum by Fed Chairman Powell did nothing to change investor expectations. It had been feared the Chairman was going to announce the beginning of tapering of the $120 billion a month of bond…

read article →

CFPB Adds Escrow to Mortgage Servicing FAQs

August 27, 2021 - 2 min read

On June 2, 2021, the Consumer Financial Protection Bureau (CFPB) updated its Mortgage Servicing FAQs to include several questions and answers regarding the escrow account rules under the Real Estate Settlement Procedures Act, as implemented by Regulation X (12 CFR 1024). The escrow account Q&As include the following categories. General includes Q&As regarding: Definitions of…

read article →

FinCEN Issues AML Act “Priorities”

August 25, 2021 - 1 min read

On June 30, 2021, FinCEN issued its list of priorities for anti-money laundering and countering the financing of terrorism (AML/CFT) (the Priorities) as required by the Anti-Money Laundering Act. The Priorities are intended to identify and describe the most significant AML/CFT threats facing the United States. The Priorities – listed, according to FinCEN, “[i]n no…

read article →

ProBank Austin Advisor

August 23, 2021 - 1 min read

The wealth of data from last week and due out this week does not change our forecast There is a temptation to just “cut and paste” past comments on the status of the economy. Not much has changed with the data of the last month. Personal consumption remains strong. Job growth is strong. Labor shortages are holding down the…

read article →

Juneteenth Independence Day Act

August 23, 2021 - 2 min read

On August 5, 2021, the CFPB issued an Interpretive Rule to provide guidance to only address certain Regulation Z timing requirements related to rescission of closed-end mortgages and the TILA-RESPA Integrated Disclosures (TRID) in light of recent legislation that designated Juneteenth as a Federal legal public holiday. In particular, the Interpretative Rule clarifies whether Saturday,…

read article →

CFPB Resumes Military Lending Act Exams

August 19, 2021 - 2 min read

On June 23, 2021 (86 FR 32723), the Consumer Financial Protection Bureau (CFPB) issued an interpretative rule in which the CFPB asserts statutory authority to conduct examinations, at those institutions that it supervises, regarding the risks to active-duty servicemembers and their covered dependents that are presented by conduct that violates the Military Lending Act (MLA)….

read article →

ProBank Austin Advisor

August 16, 2021 - 1 min read

Inflation data was more moderate but does not change our outlook for this year. Financial markets took comfort in the inflation data released last week. The Consumer Price Index increased by 0.5% in July which was well below the 0.9% rise in June. The core rate was up 0.3% which maintained the 4.3% year-over-year increase…

read article →

Let us put our five decades of experience to work for you.

Contact Us

CorporateOffices

Toll Free 800.523.4778