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 Federal Reserve Bank of Atlanta Summary of Economic Activity Sixth District business contacts reported that economic activity continued at a modest pace from April through mid-May. The outlook among contacts remains optimistic as most firms expect modest growth to continue over the next three to six months. District firms continued to report […] Read more
The FED Said “Location, location, location” is a truism associated with residential real estate. What we’re hearing from our construction contacts could be another sort of truism: “Labor, lumber, lots.” They are referring to the ongoing tight labor market in the construction trades, the skyrocketing price of lumber, and the difficulty of obtaining lots on […] Read more
The FED Said The recently enacted Tax Cuts and Jobs Act of 2017 substantially reduced corporate taxes, from 35 percent to 21 percent. Some commentators and practitioners have voiced concerns about how the new tax law will affect demand for Low Income Housing Tax Credits (LIHTC), America’s primary mechanism for producing new or refurbished affordable housing units. […] Read more
The FED Said Amid a largely positive Beige Book report on economic conditions in the Southeast, some small businesses report particular challenges competing with larger companies for a dwindling pool of available workers. Across the board, businesses continued to report pressure to increase wages for low-skill, hourly jobs, notably in the hospitality and retail industries. That’s good […] Read more