Small business optimism stunted due to inflation, worker shortage
Small business optimism remains historically low as high inflation and labor shortages continue, according to an NFIB report. [Continue]
House committee vote on digital currency possible next month
The House Financial Services Committee could vote on legislation calling for the Federal Reserve to move quickly to issue a digital dollar as soon as next month. [Continue]
Household debt tops $16 trillion
Aggregate household debt topped $16 trillion for the first time during the second quarter as high inflation caused mortgage and auto balances to grow. [Continue]
Delaware holding company buying Lead Bank
The Delaware-based bank holding company Luna Parent, Inc. is acquiring Kansas City, Mo.-based Lead Bank. According to a press release, Luna will expand the $778 million Lead Bank’s community-focused banking services and offerings to fintechs and consumers as well as continue to heavily invest in the Kansas City metro and develop a national client base. … Read more
Business loan standards tightened in the second quarter
Commercial and industrial loan standards tightened over the past three months, according to a Fed survey. [Continue]
Two Wisconsin banks to merge
Two banks in southern Wisconsin will merge later this year. The Bank of New Glarus will buy the $191 million First National Bank at Darlington. [Continue]
Midwest manufacturing economy sees strong growth
The Midwest manufacturing economy grew at a solid pace in July even as supply chain shortages lingered, according to a regional index. [Continue]
Trade groups request CFPB include large data aggregators in rule
Eight U.S. trade groups are urging the Consumer Financial Protection Bureau to define data aggregators as “larger participants” subject to regulatory supervision. [Continue]
Consumer sentiment remains near record low
Consumer sentiment remained historically low in July even as concerns over global conflicts eased, according to the University of Michigan’s Surveys of Consumers report. [Continue]
House Financial Committee passes overdraft bill
The House Financial Services Committee passed a bill restricting the number of overdraft charges banks can issue, legislation that has drawn the ire of community bankers. [Continue]