The Small Business Optimism Index it rose 2.1 points in June to 97.4, slightly below the 52-year survey average of 98.0, beating expectations of 95.8, according to a report from the National Federation of Independent Business. The gain reversed May’s decline to 95.3 and was driven primarily by improved expectations for better business conditions and […]
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According to data from the Bureau of Labor Statistics, the main consumer price index rose 3.5% year-on-year in June, below market expectations of 3.8%. Headline inflation also eased from 4.2% in May, with the decline largely driven by falling energy prices, which fell 5.7% month-on-month from their peak in May. Core CPI, excluding volatile food […]
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We believe that everyone should be able to make financial decisions with confidence. While we don’t cover every company or financial product on the market, we work hard to share a wide range of offerings and objective editorial perspectives. So how do we make money? Our partners pay us a fee for advertisements that appear […]
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In his first appearance before Congress as head of the Federal Reserve, Chairman Kevin Warsh emphasized the need for tailored bank regulation and said that while international coordination of banking standards is important, “the Basel end is not the American end.” Warsh appeared before the House Financial Services Committee today in the first of two […]
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First Gothenburg Bancshares of Gothenburg, Nebraska, has agreed to acquire Foundation First of Waterloo, Nebraska. The parent company of Dayspring Bank, with assets of $1.2 billion, expects to buy the holding company for Foundation First Bank, with assets of $200.9 million, in the second half of this year. The price has not been announced. Agricultural […]
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While the American Bankers Association supports the responsible management of federal financial aid, any changes to how that aid is distributed should preserve the operational effectiveness of the Financial Institutions Community Development Fund for financial institutions, the ABA said in letter to the Office of Management and Budget. OMB seeks to revise guidelines for how […]
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Mortgage rates are higher today as the war in Iran heats up again. The average interest rate on a 30-year fixed-rate mortgage rose to 6.53% per year, according to rates provided to NerdWallet by Zillow. That’s seven basis points more than yesterday and 11 basis points more than a week ago. (See our table below […]
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Proposed legislation supported by the American Bankers Association would require the Small Business Administration to provide and publish more details about the risks of the 7(a) lending program. The SBA is currently required to conduct an annual risk analysis of its flagship small business loan program and report the results to Congress. 7(a) Program Risk […]
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When the company you work for goes public, your capital goes from an intangible asset to one that has a publicly traded market price. But even though your net worth fluctuates in real time, you can’t sell immediately. After an initial public offering, employees, executives, founders, and early investors are typically tied into a lock-up […]
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The House of Representatives today voted to pass bipartisan legislation to implement the phase-out of pennies by providing a framework for rounding cash when exact change cannot be provided. Last year, President Trump ordered the Treasury Department to stop producing pennies, noting that each penny costs more than it’s worth. Law on Common Cents (HR […]
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