Banking agencies release details of upcoming stress test scenarios

California regulators on Friday closed Nano Banc of Irvine and appointed the FDIC as receiver. Sunwest Bank of Sandy, Utah, has agreed to assume substantially all deposits and purchase certain assets of the bank.

Consumer sentiment decreased 3.6 points month-over-month in September to 48.1, and is down seven points from one year ago, according to final results of the University of Michigan Surveys of Consumers.

Demand for protein-rich foods and nutritional supplements has continued to increase, contributing to tighter whey inventories and higher prices.

The Democratic members of the House Financial Services Committee warned banking regulators against “weakening” the Community Reinvestment Act and requested more time for public comment on proposed changes to rules implementing the law.

As it seeks to implement the Genius Act, the OCC should consider additional factors when reviewing applications from non-bank entities requesting to become payment stablecoin issuers, and it should seek public comment on those applications, ABA and three...

The Federal Trade Commission said it will explore possible rulemaking to prevent online platforms from using ad-optimization practices that exacerbate impersonation scams. ABA welcomed the announcement.