Construction spending in July was at a seasonally adjusted annual rate of $2.14 trillion, 0.1% below the revised June estimate, the Commerce Department said. The July figure was 2.8% below the estimate from a year before.
Thirteen percent of respondents said they use AI for banking and financial services on a daily basis, while 59% said they use it occasionally, according to J.D. Power.
As lawmakers consider legislation on data privacy, they should amend a 1999 law that established privacy requirements for financial institutions to better reflect the modern financial services ecosystem, ABA and four banking and credit union associations said.
U.S. manufacturing activity contracted in August for the sixth consecutive month, the Institute for Supply Management said.
Equity Bancshares in Wichita, Kansas, has agreed to buy Frontier Holdings in Omaha, Nebraska.
The Office of the Comptroller of the Currency announced a decrease in assessment rates for the Sept. 30 semiannual assessment.
The Federal Reserve announced the final individual capital requirements for large banks, but may later update the requirements if a proposed rule concerning how they are calculated is finalized.
