The FED Said An unfavorable Community Reinvestment Act (CRA) rating from the Federal Reserve Bank of Atlanta led to improved operations at BBVA (formerly BBVA Compass Bank). The year was 2013, and the Atlanta Fed was evaluating the Alabama-based bank’s performance with the CRA, a 1977 law intended to encourage banks to meet the credit needs […] Read more
The FED Said The Atlanta Fed’s Wage Growth Tracker has shown an uptick during the past several months. The 12-month average reached 3.7 percent in June, up from 3.2 percent last year. But in 2016, it depicted acceleration that eventually reversed course. So is this recent increase real or illusory? Although using a 12-month average quiets much […] Read more
The FED Said Ransomware attacks have only continued since I addressed the problem in a recent post, and they’ve continued to target municipal and state agencies. Riviera Beach (May) and Lake City (June), both in Florida, were successfully attacked. Lake City paid a bitcoin ransom of approximately $470,000 while Riviera Beach paid about $600,000, also in […] Read more
The FED Said Federal Reserve Bank of Atlanta Summary of Economic Activity On balance, reports from Sixth District business contacts indicated that economic activity continued to expand at a modest pace from mid-May through June. Although contacts shared concerns over uncertainty related to tariffs, the overall outlook among businesses remains positive as most expect continued […] Read more