The FDIC released guidance with steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Ohio and Nebraska affected by severe storms and tornadoes. The agency encouraged banks in affected areas to work constructively with borrowers experiencing difficulties due to severe weather, including extending repayment terms, restructuring existing loans or easing terms for new loans. The agency also said it would consider relief from certain filing and publishing requirements
Consumer sentiment holds steady in May
The University of Michigan Consumer Sentiment Index neither rose nor fell in May compared to the month prior, holding at 52.2, according to final results for the month.