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.
California regulators on Friday closed Nano Banc of Irvine and appointed the FDIC as receiver. Sunwest Bank of Sandy, Utah, has agreed to assume substantially all deposits and purchase certain assets of the bank.
Consumer sentiment decreased 3.6 points month-over-month in September to 48.1, and is down seven points from one year ago, according to final results of the University of Michigan Surveys of Consumers.
Demand for protein-rich foods and nutritional supplements has continued to increase, contributing to tighter whey inventories and higher prices.
The Democratic members of the House Financial Services Committee warned banking regulators against “weakening” the Community Reinvestment Act and requested more time for public comment on proposed changes to rules implementing the law.
As it seeks to implement the Genius Act, the OCC should consider additional factors when reviewing applications from non-bank entities requesting to become payment stablecoin issuers, and it should seek public comment on those applications, ABA and three...
Mutuals show that a relationship-based model remains valued by many Americans and continues to position these institutions as pillars of their local communities.
