New orders for manufactured durable goods increased $2.7 billion or 0.9% in February to $289.3 billion, the U.S. Census Bureau said in its most recent advance report. The increase followed a 3.3% January increase. Excluding transportation, new orders increased 0.7%. Excluding defense, new orders increased 0.8%. Transportation equipment led the increase, $1.4 billion or 1.5% to $98.3 billion.
Banking regulators announced they intend to rescind the 2023 Community Reinvestment Act final rule “in light of pending litigation.” They will instead reinstate the CRA framework that was in place before the rule.
The FDIC rescinded earlier guidance urging banks to first contact the agency before engaging in crypto-related activities, part of a broader effort by the Trump administration to ease regulatory hurdles for digital assets.
Personal income increased 0.8%, or $194.7 billion, in February, the Commerce Department said. The personal savings rate was 4.6%.
Credit union acquisition of banks doubled their pace in 2024, hitting a record high of 22 announced deals.
The CFPB announced that “it will not prioritize enforcement or supervision actions” with respect to its 2017 small-dollar lending rule, which was to take effect March 30.
Final results show consumer sentiment fell 7.7 points in March to 57, down 22.4 points from one year ago, according to final results of the University of Michigan Surveys of Consumers.
