New orders for manufactured durable goods decreased $6.3 billion or 2.2% in December 2024 to $276.1 billion, the U.S. Census Bureau said in its most recent advance report. The drop followed a 2% decrease in November. Excluding transportation, new orders increased 0.3%. Excluding defense, new orders fell 2.4%. Transportation equipment drove the decrease, dropping $6.9 billion or 7.4% to $86.1 billion.
ABA joined 52 state bankers associations in expressing strong support for a resolution of disapproval introduced by lawmakers that would invalidate the CFPB’s final rule on overdraft protection.
FS-ISAC has released a series of papers on the challenges and threats posed by quantum computing for the payment card industry along with frameworks for making card payment systems more resilient to the technology.
Business inventories in December came in at $2.58 trillion, down 0.2% from the month prior but up 2% from a year ago, the Commerce Department said.
Retail and food service sales for January were $723.9 billion, down 0.9% from the previous month, the Commerce Department said in its advance estimate. Sales were up 4.2% from a year ago.
Industrial production increased 0.5% in January from the previous month, the Federal Reserve reported. The January figure was up 2% from a year prior.
A Senate bill to cap the annual percentage rate for credit cards at 10% would have a devastating effect on access to credit for individuals and small business owners who use their personal cards as a form of...
