Mara Gawarecki

Minneapolis

Managing Editor at BankBeat

Editor-in-Chief for @BankBeat magazine; tweets, bad puns my own

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Articles

Treasury launches national financial inclusion strategy

Oct 31, 2024 | bankbeat.biz | Mara Gawarecki

The U.S. Department of the Treasury recently unveiled its first national strategy for financial inclusion. Treasury Secretary Janet Yellen announced the strategy on Oct. 29 during the American Bankers Association annual convention in New York City. The plan identifies goals and recommendations for the banking industry, policymakers, employers and community groups to increase consumer access to financial products and services.
ABA panel: Multiple bank-related bills could pass this year

Oct 31, 2024 | bankbeat.biz | Mara Gawarecki

Multiple pieces of bank-related legislation could pass this year, according to a five-person panel of American Bankers Association regulatory experts. The panel discussed the current slate of banking-related bills on Oct. 29 during the American Bankers Association annual convention in New York City. Congress has still not passed an extension of the farm bill. Uncertainty continues on whether Congress will pass a new farm bill or extend the current version of the bill for another year.
Survey: Vast majority of customers pleased with banks

Oct 29, 2024 | bankbeat.biz | Mara Gawarecki

The vast majority of Americans are pleased with their bank, according to an American Bankers Association national consumers survey.
Builder confidence rises again amid easing inflation

Oct 29, 2024 | bankbeat.biz | Mara Gawarecki

Builder confidence in the market for new single-family homes improved for the second straight month in October amid easing inflation and expectations that mortgage rates will moderate in the coming months, according to the National Association of Home Builders/Wells Fargo Housing Market Index. The index tracking the market for new single-family homes increased two points to 43 this month from 41 in September.
Hurricanes, strike limited September industrial production

Oct 22, 2024 | bankbeat.biz | Mara Gawarecki

Industrial production fell 0.3 percent in September amid a strike at Boeing and two hurricanes causing damage in the Southeast, according to the Federal Reserve. In mid-September, more than 33,000 machinists at aircraft maker Boeing, the majority of whom are in the Seattle metropolitan area, went on strike, their first in 16 years. The strike temporarily halted production of Boeing’s 767, 777 and 737 jets. On Oct. 19, Boeing announced an end to the strike, which included 35 percent raises.
Survey: Bank executives desire Fed independence

Oct 18, 2024 | bankbeat.biz | Mara Gawarecki

Bankers are open to changes at the Federal Reserve but want the agency to remain independent from the executive branch, according to IntraFi’s third quarter business outlook survey of executives from 416 banks. Respondents prefer Vice President Kamala Harris’ stance that the autonomy of the Federal Reserve should remain as is — 64 percent — to former President Donald Trump’s view that the Federal Reserve should have less autonomy — 36 percent.
ABA: Credit market will strengthen in next six months

Oct 18, 2024 | bankbeat.biz | Mara Gawarecki

Credit conditions are expected to improve for both small businesses and consumers for the first time since 2022, according to the American Bankers Association’s latest Credit Conditions Index. The headline credit index more than doubled in the fourth quarter — 56.9 from 28.2 in the third quarter, its fourth straight month of improvement.
Consumer sentiment falls as inflation limits optimism

Oct 14, 2024 | bankbeat.biz | Mara Gawarecki

Consumer sentiment fell this month amid frustration over high prices, according to the University of Michigan Surveys of Consumers. The index of consumer sentiment fell 1.7 percent to 68.9 from 70.1 in September, but remains 8 percent higher than in October 2023. Despite the drop in sentiment, inflation continues to fall closer to the Federal Reserve’s 2 percent long-term target, dropping to 2.4 percent last month, according to the .
Bowman: Nonbanks should face same regulatory standards as banks

Oct 14, 2024 | bankbeat.biz | Mara Gawarecki

Nonbanks and credit unions engaging in the same activities as community banks should face the same regulations, guidance and supervisory requirements, said Federal Reserve Gov. Michelle Bowman. Speaking Oct. 11 during a banking symposium in Chicago, Bowman said banks face higher taxes and stricter regulations than other financial institutions which sometimes have similar business models. “Where the financial regulatory framework can provide for parity of treatment, it should do so,” she said.
Small business optimism muted as election looms

Oct 11, 2024 | bankbeat.biz | Mara Gawarecki

Small business optimism remains below average as inflation concerns limit positive sentiments among owners, according to the National Federation of Independent Business. The NFIB Small Business Optimism Index increased 0.3 points in September to 91.5, its 33rd straight month of being below the 50-year average of 98. Twenty-three percent of owners cited inflation as their most important problem in operating their business, down one point from August and still the No. 1 issue.