Welcome to ThinkProgress Economy’s morning link roundup. This is what we’re reading. Have you seen any interesting news? Let us know in the comments section. You can also follow ThinkProgress Economy on Twitter.
- President Obama has reportedly “directed a small team of advisers to develop a proposal that would keep the government playing a major role in the nation’s mortgage market, extending a federal loan subsidy for most home buyers.” [Washington Post]
- According to the latest Federal Reserve data, “banks relaxed their lending standards further during recent months as competition intensified among financial institutions and demand increased for many types of loans.” [Wall Street Journal]
- Starbucks CEO Howard Schultz “urged other CEOs to boycott donating to U.S. political campaigns to encourage leaders to solve the nation’s growing budget deficit.” [Bloomberg]
- U.S. regulators who were given new powers to dismantle “too-big-to-fail” banks under the Dodd-Frank financial reform law “are still working to draw up so-called living wills — a central component of the toolkit needed to prevent future bailouts.” [Bloomberg]
- According to the latest European Union data, GDP for the 17 nations that use the euro grew at just 0.2 percent in the second quarter. [CNN Money]
- “The national credit card delinquency rate, or rate of payments 90 days or more past due, fell to 0.60 percent in the second quarter, down from 0.92 percent a year ago,” which is the lowest level since 1994. [Associated Press]
- Regulators at the Securities and Exchange Commission “are checking to ensure that Standard & Poor’s followed all of its policies leading up to its downgrade of long-term U.S. debt.” [Reuters]
- President Obama today “is set to announce several new initiatives meant to spark job creation in rural America without forcing the administration to get the backing of Congress.” [The Hill]
- Summer employment for teenagers “increased 13.2 percent compared with last year’s figures,” according to a new report. [The Hill]
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