Fed Announces Plan for Unclaimed Foreclosure Settlement Funds

The U.S. manufacturing sector contracted in July for the fifth month in a row, following a two-month expansion preceded by 26 straight months of contraction. The ISM Manufacturing PMI® registered 48%, 1.0 percentage points (pp) lower compared to...

A recent analysis of data breach incidents found that nearly every breach contained financial information, while a separate analysis concluded that the average cost of a breach in the U.S. grew to more than $10 million last year.

Total nonfarm payroll employment changed little in July (+73,000) and has shown little change since April, the U.S. Bureau of Labor Statistics (BLS) reported. The unemployment rate, at 4.2%, also changed little in July.

The Federal Reserve has joined other banking agencies in allowing banks to collect taxpayer identification number information from third parties rather than directly from bank customers when opening accounts.

The rate for a 30-year fixed-rate mortgage was 6.72% this week. The rate for a 15-year fixed-rate mortgage was 5.85%.

Personal income increased 0.3%, or $74.1 billion, in June, the Commerce Department said. The personal savings rate was 4.5%.