Housing starts decreased by 5.5% in May from the month prior to a seasonally adjusted annual rate of 1.28 million, the Commerce Department reported today. The rate was 10% below the May 2023 level. New building permits—an indicator of future demand—dropped 3.8% in May from the month prior and were 9.5% lower than last year.
The 15-year fixed-rate mortgage also declined, to 6.68% from 6.71% last week, compared with 5.44% one year ago.
The convention will open with remarks from ABA President and CEO Rob Nichols, who will outline the association’s priorities for the year ahead and look ahead to the midterm election
The Treasury Department announced that the Financial Crimes Enforcement Network is investigating a Greek bank for alleged ties to Iran.
Every $1 of fraud now costs U.S. financial services firms $5.47, up from $4 in 2021, according to new research by LexisNexis. At the same time, a separate study by PYMNTS.com found that U.S. financial institutions now spend...
The Cybersecurity and Infrastructure Security Agency is urging organizations to immediately patch two critical vulnerabilities found in a programming language used by many websites.
ABA announced the 2026 recipients of its annual Emerging Leader Awards, which recognize the next generation of bank leaders who are committed to the highest standards of achievement and service to both their industry and their local communities.
