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.
President Trump canceled plans to sign a bipartisan housing bill into law, saying lawmakers should first pass an unrelated elections bill.
Large banks are well positioned to weather a severe recession and would be able to continue to lend to households and businesses, according to the results of the Federal Reserve’s annual stress tests.
As policymakers consider proposals related to payment system access, such as new chartering models and Federal Reserve account access, they should proceed cautiously or risk weakening the coherence of the existing payments framework, ABA told House lawmakers.
A majority of U.S. bank executives said they have seen an increase in the number of cyberattacks on their institutions in the past year and have boosted their cybersecurity budgets as a result, according to the most recent...
Organizations have only months to prepare for the cybersecurity challenges posed by new artificial intelligence models, making cyber resilience “integral to advancing business continuity,” the leaders of the "Five Eyes" cybersecurity agencies warned in a joint statement.
The House overwhelmingly voted to pass a bipartisan housing bill that contains several provisions related to banking. The legislation now heads to President Trump, who is expected to sign it into law as early as this week.
