Podcast: Dan Robb on Standing Up for Banking

ABA joined three associations in voicing support for a CFPB proposal to rescind a set of changes to the bureau’s rules that, among other things, gave its director authority to resolve adjudication hearings overseen by the agency.

With many economists expecting inflation to spike following the implementation of reciprocal tariffs, the headline Consumer Price Index rose 2.4% year-over-year in May — right in line with consensus expectations.

The University of Michigan Consumer Sentiment Index increased 15.9% in June compared to the month prior, landing at 60.5, according to preliminary results for the month.

Senate Banking Committee Chairman Tim Scott (R-S.C.) said a proposal to prevent the Federal Reserve from paying interest to banks “is not a decision to be rushed” and must follow proper parliamentary procedure, Bloomberg Law reported.

The Senate granted unanimous consent to S. 1467, an ABA-advocated bill that would would prevent credit reporting agencies from selling so-called mortgage trigger leads to lenders in most circumstances.

The Producer Price Index for final demand edged up 0.1% in May, seasonally adjusted, the U.S. Bureau of Labor Statistics reported. Final demand prices declined 0.2% in April and 0.1% in March.