Browsing: Newsbytes

ABA Banking Journal Podcast Podcast: Reversing the De Novo Flatline

In the more than eight years since the Dodd-Frank Act passed, just 13 new U.S. banks have been chartered — and in some years, no new banks have been chartered at all. ABA Chairman Ken Burgess, who co-founded FirstCapital Bank of Texas as a de novo two decades ago, is concerned about these numbers.

Economy

Producer prices increased 0.2 percent in September, seasonally adjusted, after decreasing 0.1 percent in August, according to the U.S. Bureau of Labor Statistics. Producer prices rose 2.6 percent for the twelve months ended September 2018. The index for final demand goods decreased 0.1 percent in September, the first decrease since May 2017. The index for

Newsbytes

The ABA Foundation has recognized six banks for their outstanding commitment to their communities. The ABA Community Commitment Awards — to be presented on Oct. 23 during ABA’s Annual Convention in New York — are given in six categories to honor innovative, high-impact bank programs and projects that produce lasting results in the communities they

Economy

The NFIB Small Business Optimism Index fell to 107.9, 0.9 point below August’s record reading. This is the third highest reading in index history. Thirty-three percent of business owners surveyed said the next three months was a good time to expand, one point lower than last month’s reading. Reported job creation increased three points, as

Economy

Consumer credit increased at a seasonally adjusted annual rate of 6.2 percent in August, up from a 5.1 percent rate in July. Total outstanding credit increased $20.1 billion during the month (compared with $16.6 billion in July) to $3.94 trillion. Revolving credit, largely a reflection of credit card debt, increased at an annual rate of

Economy

The U.S. international trade deficit widened in August, rising 6.4 percent to $53.2 billion, according to the U.S. Census Bureau and the U.S. Bureau of Economic Analysis. Imports rose 0.6 percent, while exports fell 0.8 percent. July’s trade deficit was downwardly revised from $50.1 billion to $50.0 billion. The goods deficit increased 4.8 percent to

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