The ISM nonmanufacturing index increased 1.2% from the prior month to land at 51.4% in March, the Institute for Supply Management said today. (Readings over 50% indicate expansion.) Twelve industries tracked reported growth while four others reported contraction.
The goal is to focus the IDI resolution planning process on the operational information most relevant for the FDIC to resolve a large bank through a weekend sale or operate the institution for a short period of time...
The Federal Reserve Bank of Philadelphia's next president and CEO will be economist Anna Paulson, succeeding Patrick Harker on July 1.
ABA urged the current leadership of the CFPB “to restore balance to the policy conversation about the credit card market” following several actions taken by the prior administration to weaponize the bureau against credit card services and products.
The Trump administration sent layoff notices to more than 1,500 staff at the CFPB, leaving only 200 personnel at the bureau, Fox Business reported.
The payment by the Federal Reserve of interest on bank reserves may sound like an abstruse matter of economic theory, but these payments are critical to bank operations and the Fed's conduct of monetary policy.
The rate for a 30-year fixed-rate mortgage was 6.83% this week. The rate for a 15-year fixed-rate mortgage was 6.03%.
