MasterCard today said that not enough MasterCard-issuing banks accepted the proposed $19 million settlement with Target by the May 20 deadline. The settlement was seeking participation from issuers representing at least 90 percent of eligible MasterCard accounts accepting offers through the settlement. “We will continue to work to resolve this matter,” MasterCard said in an email to its issuers. For further information, contact ABA’s Molly Wilkinson.
Despite temporary tariff relief, small businesses still face elevated costs from historically high tariffs on Chinese goods.
Overall customer satisfaction with personal loans has remained largely flat, according to J.D. Power’s 2025 U.S. Consumer Lending Satisfaction Study.
The University of Michigan Consumer Sentiment Index decreased 2.7% in May compared to the month prior, landing at 50.9, according to preliminary results for the month.
Housing starts increased by 1.6% in April from the month prior to a seasonally adjusted annual rate of 1.34 million, the Commerce Department reported.
The CFPB has withdrawn a proposed rule to prohibit contractual provisions in agreements for consumer financial products or services that waive “substantive” consumer legal rights and protections.
The rate for a 30-year fixed-rate mortgage was 6.81% this week. The rate for a 15-year fixed-rate mortgage was 5.92%.
