The new rule will also give financial institutions incentive to limit their data sharing, since an institution that shares the data with an unaffiliated third party will trigger the consumer's opt out rights and make that institution ineligible to use the new online disclosure method. The online disclosure method of financial institutions' privacy policies will better educate consumers, since the government's model disclosure form will be used that allows consumers to easily understand their financial institutions' privacy policies. Also, CFPB estimates that financial institutions could save the industry about $17 million dollars a year by using the new online disclosure method.
Housing indicators cooled off slightly in September, marking the annual start of what is typically a slower season for the market, according to a report from listings site Realtor.com. At the national level, Realtor.com reported the median age of September's housing stock was 90 days, four days longer than August's median age as home shoppers back off for the season. Compared to last year, however, September's median inventory age was down three days, indicating demand is still there. The number of listings last month was approximately 1.87 million, down 2.7 percent annually and 7.9 percent monthly.