Growth in the Institute for Supply Management’s non-manufacturing index fell in August to 59 percent — down 1.3 percent from July’s reading but measuring its second-highest level since 2005, the ISM said today. Readings above 50 percent indicate expansion. All of the index’s 10 indicators, and 15 of the 18 industries tracked, saw growth in August.
Sen. Roger Marshall (R-Kan.) has filed an amendment to add credit card network routing mandates to an unrelated bill establishing a regulatory framework for payment stablecoins.
The FDIC board unanimously voted to rescind a 2024 statement on bank mergers that expanded the factors taken under consideration when the agency reviews merger applications.
DIF reserve ratio remains on track to reach the statutory minimum of 1.35% by year's end. Also, FDIC will explore changing how it calculates the DIF's exposure to losses.
The House voted in favor of a Senate resolution to overturn a 2024 final rule that changed how the OCC reviews proposed bank mergers. The legislation heads to President Trump for his signature.
ABA expressed support for several bills under consideration by the House Financial Services Committee, including legislation on regulatory tailoring, reputational risk and bank merger applications.
First National Bank in Fort Pierre, South Dakota, has agreed to buy Wyoming Bank & Trust in Cheyenne.
