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.
After previously seeking public input on the idea, the Federal Reserve issued a formal proposal for establishing payment accounts and will seek further comment.
As more states weigh laws to restrict interchange fees, the OCC will continue to defend federal preemption in courtrooms "as appropriate," Comptroller Jonathan Gould said. He also defended the OCC’s decision to grant national trust charters to entities...
The House voted to pass a bipartisan bill to bolster housing supply after the White House signaled its support for the measure. Lawmakers also passed three bills seeking to boost de novo bank formation and amend the brokered...
The FCC voted to issue an ABA-backed proposal that would impose stronger “know your upstream provider” requirements on voice service providers that allow calls to pass through their network.
With inflation persistently remaining above the Federal Reserve’s 2% target, a majority of Federal Open Market Committee members believe that raising rates may be needed in the future if there is no progress toward that goal, according to...
President Trump signed an executive order directing regulators to provide guidance to financial institutions on identifying suspicious activity allegedly tied to individuals in the country illegally, and to potentially strengthen customer due diligence requirements. He also signed a...
