October 3, 2017
Tuesday’s Regulatory & Legislative Roundup
- Years after the nation’s last recession, lower socio-economic workers are now reaping the benefits of a stronger economy.Though this is great, wealthier Americans still are gaining the most benefits from an upward flowing economy. A study found in 2016, 38.6% of America’s total wealth was controlled by 1% of households. However, within three years, the net worth of the average American family increased 16% to, $97,300.
- The Consumer Financial Protection Bureau is under judicial scrutiny again. A number of financial groups came together to file a lawsuit against the agency’s arbitration rule. Groups supporting the lawsuit include the U.S. Chamber of Commerce, American Bankers Association, Texas Association of Business, and nine chambers of commerce in Texas. Further, the group asserts the rule is invalid for four varying reasons.
