The ISM services index rose 1.9% from the prior month to land at 52% in August, the Institute for Supply Management said. (Readings over 50% indicate expansion.) Twelve industries tracked reported growth while four reported contraction.
The OCC is taking action to address concerns about “debanking,” including through the licensing process and CRA exams, Comptroller of the Currency Jonathan Gould said at a conference in New York City.
The economy has changed significantly since the 2008 financial crisis, but regulation is holding back banks from fully engaging with those changes, Federal Reserve Vice Chair for Supervision Michelle Bowman said.
ABA and 52 state bankers associations urged the Treasury Department to uphold the Genius Act’s prohibition on stablecoin issuers paying interest or yield on payment stablecoins.
The CFPB's procedures for securing its information systems have deteriorated in recent months, and the issue has been made worse by the loss of contractor resources and bureau personnel, according to a recent audit by the Federal Reserve...
Central banks and other supervisory and regulatory authorities need to “raise their game” both as observers of the effects of artificial intelligence on the economy and as users of the technology, according to a new report by the...
During the third quarter, banks reported tighter lending standards for commercial and industrial loans to firms of all sizes and stronger demand for C&I loans from large and middle-market firms.
