House working group to study AI in financial services

A proposed accounting standards update on derivatives and hedging would remove unnecessary constraints on the latter, thereby better aligning financial reporting with institutions’ risk management activities, ABA said in a letter to FASB.

The average U.S. credit card spend rose $109 since last year, reflecting financial strength for some customers and mounting financial pressure for others, according to JD Power’s 2026 U.S. Credit Card Satisfaction Study.

Pending home sales in July decreased by 2.3% month-over-month and 2.2% year-over-year, according to the National Association of Realtors.

Industrial production and manufacturing production each grew 0.2% in July after growing 0.3% in June, according to the Federal Reserve.

Privately-owned housing starts in July were at a seasonally adjusted annual rate of 1.239 million, which was 12.4% below the revised June estimate and 13.5% below the July 2025 rate.

HomeTrust Bancshares in North Carolina, to buy Blue Ridge Bankshares in Virginia. Also, Great American Bank to buy Cottonwood Valley Bank in Cedar Point, Kansas.