Business inventories in August came in at $2.58 trillion, up 0.3% from the month prior and up 2.4% from a year ago, the Commerce Department said today. Trade sales and manufacturers’ shipments were $1.88 trillion, down 0.2% from the month prior and up 1.3% from a year ago.
A federal court has lifted its nationwide injunction on beneficial ownership information collection, citing a U.S. Supreme Court ruling in a separate case on the constitutionality of the Corporate Transparency Act.
President Trump issued an executive order that limits the autonomy of so-called independent agencies — including the prudential bank regulators — to issue regulations. The order exempts the monetary policy functions of the Federal Reserve.
A new ABA survey of banks and core platform providers found that just over half (53%) of bankers are “extremely” or “somewhat” satisfied with their core platform providers.
The Kentucky Bankers Association has activated its Disaster Relief Fund to provide financial support to bank employees affected by recent flooding in the state.
Genesis Bank in Newport Beach, California, agreed to buy EH National Bank in Beverly Hills for an undisclosed amount of cash.
Acting Comptroller of the Currency Rodney Hood told community bankers that regulation needs to be effective “without being excessive.” He also plans to revisit how bank merger applications are reviewed.
