Personal income increased 0.3%, or $65.3 billion, in April, the Commerce Department said today. The personal savings rate—a percentage of disposable personal income—was 3.6%. Meanwhile, personal consumption expenditures increased 0.2%, or $39.1 billion.
ABA will donate $10,000 to Texas Bankers Foundation to assist with immediate disaster response and recovery following the recent catastrophic flooding in Central Texas.
The rate for a 30-year fixed-rate mortgage was 6.72% this week. The rate for a 15-year fixed-rate mortgage was 5.86%.
The Federal Reserve requested comment on a proposal to revise its supervisory rating framework for large bank holding companies to address the "well managed" status of the firms.
The Senate voted to confirm Jonathan Gould as comptroller of the currency. He succeeds Rodney Hood, who is acting comptroller.
FinCEN has extended by more than a month the effective dates for orders involving three Mexico-based financial institutions with alleged ties to fentanyl trafficking, according to an agency statement.
The FDIC board will hold an open meeting next week to consider several agenda items, including proposals on regulatory thresholds, the Community Reinvestment Act and bank branches.
