Business inventories in May came in at $2.66 trillion, virtually unchanged from the month prior but up 1.7% from a year ago, the Commerce Department said. Trade sales and manufacturers’ shipments were $1.91 trillion, down 0.4% from the month prior but up 3.1% from a year ago.
The Producer Price Index for final demand increased 1.1% in May, seasonally adjusted, the U.S. Bureau of Labor Statistics reported.
The OCC has released for public review draft forms that will be used to collect information from payment stablecoin issuers under its jurisdiction.
CISA released a new framework for federal civilian agencies in determining how quickly to patch software vulnerabilities, noting that artificial intelligence is “vastly increasing” the pace at which such vulnerabilities are discovered.
The rate for a 30-year fixed-rate mortgage was 6.52% this week. The rate for a 15-year fixed-rate mortgage was 5.84%.
President Trump nominated bank executive Brian Johnson to lead the CFPB, which has been without a full-time leader since the firing of Rohit Chopra last year.
ABA said it strongly supports the shift toward risk-based compliance in a proposed overhaul of the Bank Secrecy Act program rule.
