Due to an annual decrease in consumer prices, financial regulators have announced that the dollar threshold at which higher priced-mortgages become subject to special appraisal requirements will remain unchanged at $25,500 in 2016. Agencies also said that the threshold under which consumer credit and lease transactions under Regulation Z (Truth in Lending Act) and Regulation M (Consumer Leasing Act) are exempt will remain at $54,600 in 2016.
The U.S. banking system remained sound and resilient, with regulatory capital ratios approaching or exceeding historical highs, the Federal Reserve said in the second of its two yearly reports on the nation’s financial stability.
The FedNow instant payments service saw nearly $17.5 billion in transactions in the third quarter of the year, up from less than $500 million in the second quarter.
The average cost of this year's classic holiday feast is $58.08, a decline of 5% from 2023. Still, a Thanksgiving meal is 19% higher than it was in 2019, pre-pandemic.
The Federal Reserve announced 2025 pricing for payment services the Federal Reserve Banks provide to banks and credit unions, with an estimated 2.8% average price increase for established, mature services.
The University of Michigan Consumer Sentiment Index rose 1.8% in November compared to the month prior, landing at 71.8, according to final results for the month.
More than half of U.S. consumers are conducting their banking via mobile apps more often than any other method, according to a new survey conducted by Morning Consult on behalf of the ABA.
