James Bullard, president and CEO of the Federal Reserve Bank of St. Louis, today announced that he will step down Aug. 14 to become the inaugural dean of the Mitchell E. Daniels Jr. School of Business at Purdue University. First VP and COO Kathleen O’Neill Paese has assumed the duties of interim CEO in preparation for Bullard’s exit. The bank’s board of directors has formed a search committee to find a replacement.
Agency extended to Dec. 10 the deadline for contractors to object to the disclosure of their 2021 diversity data, known as “EEO-1 reports.” ABA has prepared an analysis to guide banks on their responses.
Federal and state financial regulators released a joint statement with strategies and advice for financial institutions on identifying, preventing and responding to elder financial exploitation.
The Fifth Circuit Court of Appeals, which has been hearing the legal challenge against the CFPB’s small dollar lending rule, issued an order last week clarifying that the rule’s compliance date is March 30, 2025.
Economic activity rose slightly in most of the 12 Federal Reserve districts since October, with business contacts expressing optimism that demand will rise in coming months, the Fed said.
The nonfarm private sector gained 146,000 jobs in November and annual pay was up 4.8% Year-over-Year, according to the ADP National Employment Report. This follows a downward revision to 184,000 jobs in October from 233,000.
New orders of manufactured goods increased $1.1 billion, or 0.2%, from the prior month to $586.7 billion in November, the Commerce Department said.
