The University of Michigan Consumer Sentiment Index decreased 12.7% in May compared to the month prior, landing at 67.4, according to preliminary results for the month. The May figure was up 14.2% from a year ago. The current conditions component of the index fell 12.9% from the month prior, landing at 68.8, while the consumer expectations index fell 12.5% to 66.5.
FHA’s proposed implementation of a new rule removing the face-to-face meeting requirement for certain mortgagees could actually increase the complexity and risk of the borrower engagement process, ABA and three associations said.
Federal Reserve, FDIC and OCC extended the public comment period for their request for information on bank partnerships with financial technology companies to Oct. 30.
Household incomes are catching up with inflation, with important implications for credit quality and overall consumer health.
The FDIC announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Pennsylvania affected by Tropical Storm Debby.
ABA and the Colorado Bankers Association released a new ad highlighting Rep. Brittany Pettersen’s (D-Colo.) support for legislation that would enable banks to provide services to licensed cannabis businesses in states where cannabis is legal.
The Treasury Department and IRS released proposed regulations concerning the implementation of the corporate alternative minimum tax that incorporated an ABA recommendation.
