Browsing: Newsbytes

Economy

The U.S. international trade deficit narrowed in April, falling 2.1% to $46.2 billion, according to the U.S. Census Bureau and the U.S. Bureau of Economic Analysis. Imports fell 0.3%, while exports rose 0.3%. March’s trade deficit was downwardly revised from $49.0 billion to $47.2 billion. The goods deficit decreased 1.5% to $68.3 billion, while the

Legal

The American Bankers Association today filed a cross-appeal in its legal challenge to the National Credit Union Administration’s field of membership rule, which further expanded the already loose fields of membership from which federal credit unions can draw their customers.

Economy

The ISM Non-Manufacturing Index registered 58.6 points in May, 1.8 percentage points above April’s figure. This was the 100th consecutive month of expansion as a reading above 50 indicates growth. Fourteen non-manufacturing industries reported growth, while one reported a decrease. Growth in the Business Activity Index increased 2.2 points to 61.3, the 106th consecutive month

Compliance and Risk

In a comment letter to the Consumer Financial Protection Bureau today — the sixth of 12 the association will submit as part of the bureau’s ongoing feedback initiative — ABA urged the bureau to stop publishing individual consumer complaints and complaint narratives. The association pointed out that the practice of publishing individual complaints — which began

Economy

New orders for manufactured goods decreased 0.8% to $494.4 billion in April, according to the U.S. Census Bureau. The decrease followed a 1.7% rise in February. New orders for manufactured durable goods decreased 1.6% to $248.6 billion in April. Transportation equipment led the decline, falling 6.0% to $87.2 billion. Shipments of manufactured durable goods were

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