October 20, 2017
- The Consumer Financial Protection Bureau (CFPB) recently released a report detailing its consumer protection principles. In the report, the CFPB lists their grounds for authorizing “financial data sharing and aggregation.” The agency’s goal is to improve the market by enhancing financial services and products, fostering competition, and enabling consumers to fully own their financial choices. The agency notes, while these principles provide for great practice, they are not intended to override or overturn any existing statutes or rules in the financial industry.
- The U.S. Commerce Department recently released a report regarding new residential construction across the Nation. In various pockets throughout the U.S., building permits among other indicia of building new homes have declined. According to the report by the Commerce Department, new home construction is well below the homebuilding percentages of 2006. Moreover, homebuilding is in its third month of decline. Similar to building permits and new home construction, housing stocks are also decreasing.