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.
A bill to create a regulatory framework for payment stablecoins cleared a key procedural hurdle after several Democrats joined Republicans in voting to advance the legislation.
ABA joined three financial sector associations in urging the Federal Reserve for a more flexible compliance deadline for proposed changes in the stress capital buffer requirement for large banks.
The financial sector is scrambling to keep up with the heightened risks posed by cyber threats through increasing investment in fraud prevention and strengthening third-party risk management, according to a new report by FS-ISAC.
An increase in the number of financial institutions offering Bank On-certified accounts may have contributed to the decline in unbanked households by lowering barriers to account ownership, according to new research.
Despite temporary tariff relief, small businesses still face elevated costs from historically high tariffs on Chinese goods.
Overall customer satisfaction with personal loans has remained largely flat, according to J.D. Power’s 2025 U.S. Consumer Lending Satisfaction Study.
