The Producer Price Index for final demand increased 1.4% in April, seasonally adjusted, the U.S. Bureau of Labor Statistics reported. On an unadjusted basis, the index for final demand rose 6% for the 12 months ending in April.
Roughly 6% of U.S. adults were unbanked last year, a figure that has held steady since 2021. Fed survey also polled experience with scams, credit availability and cryptocurrency use.
California Gov. Gavin Newsom has appointed former Consumer Financial Protection Bureau Director Rohit Chopra to lead the state’s new business regulation and consumer protection agency, according to an announcement.
The TRUST Act and SMART Act would raise the threshold to $6 billion in assets for well-managed, well-capitalized banks to have less frequent exams, as well as streamlining the exam experience for qualifying banks under that threshold.
FinCEN has issued a notice urging increased vigilance by banks and other financial institutions for signs of human trafficking in and around cities hosting the 2026 FIFA World Cup.
Saying that the Current Expected Credit Loss accounting standard "clearly did not improve safety and soundness", Federal Reserve Vice Chair for Supervision Michelle Bowman called for a repeal, exemption or practical expedient to be available for community banks...
