State regulators on Friday closed Edgebrook Bank, Chicago, and appointed the FDIC as receiver. Republic Bank of Chicago, Oak Brook, Ill., agreed to assume all of the failed banks $90 million in deposits and to purchase $79.7 million of its $90 million in assets. The failure, which is estimated to cost the Deposit Insurance Fund $16.8 million, was the fifth thus far in 2015. Read more.
The Illinois General Assembly approved legislation extending by a year the effective date of a first-of-its-kind state law restricting interchange fees.
The University of Michigan Consumer Sentiment Index neither rose nor fell in May compared to the month prior, holding at 52.2, according to final results for the month.
Personal income increased 0.8%, or $210.1 billion, in April, the Commerce Department said. The personal savings rate was 4.9%.
Close to one-fourth of buy now, pay later users were late making a payment in 2024, a significant increase from the previous year.
The FDIC has issued the lists of institutions scheduled for Community Reinvestment Act examinations during the third and fourth quarters of 2025.
ABA urged HUD to rescind its 2023 disparate-impact rule and replace it with one that more closely aligns with the findings of the U.S. Supreme Court.
