Hearings scheduled on FinCEN oversight, Fed discount window

President Trump’s proposal for a one-year cap of 10% on credit card interest rates would harm consumers and small businesses by reducing credit availability, ABA and four banking associations said.

Heavy truck sales have historically served as a reliable leading indicator of an economic slowdown.

Privately-owned housing units authorized by building permits in October were at a seasonally adjusted annual rate of 1,412,000. This is 0.2% below the revised September rate of 1,415,000 and is 1.1% below the October 2024 rate of 1,428,000.

Consumer sentiment increased 1.1 points month-over-month in January to 54.0, down 17.7 points from one year ago, according to preliminary results of the University of Michigan Surveys of Consumers.

FinCEN issued an alert urging financial institutions to identify and report fraud associated with federal child nutrition programs in Minnesota, and it released a geographic targeting order directing banks and money transmitters in two Minnesota counties to report...

Total nonfarm payroll employment increased (+50,000) according to the U.S. Bureau of Labor Statistics. The unemployment rate, at 4.4%, edged down from November’s revised rate of 4.5%.