Senate Banking Committee advances Warsh nomination

The non-farm private sector added 44,000 jobs in July, and annual pay was up 4.4% year-over-year, according to the ADP National Employment Report. This follows a revised June report of 95,000.  Small businesses with fewer than 50 added 23,000 jobs. Medium-sized businesses with 50–499 employees added 8,000 jobs, while large businesses gained 13,000 jobs.  “Job-changers...

ABA economists believe that despite the higher July topline index, lower employment activity and continued cost pressures in the services sector may weigh on U.S. economic activity. For banks, price pressures and declining employment figures could weigh on consumer...

Peoples Bancshares of TN has agreed to buy First Peoples Bancorp in Tennessee. Alma Bank has agreed to buy American Community Bancorp in New York.

The FDIC has reopened the Office of Supervisory Appeals and appointed three individuals to serve on a panel that will review supervisory decisions.

The FDIC released guidance with steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Michigan affected by severe storms and flooding.

In a joint letter, 50 state and territorial attorneys general said they support a FCC proposal to bolster “know your customer” obligations for voice service providers that originate calls, arguing that stronger requirements will help fight fraud and...