Personal income increased 0.5%, or $114.1 billion, in May, the Commerce Department said today. The personal savings rate—a percentage of disposable personal income—was 3.9%. Meanwhile, personal consumption expenditures increased 0.2%, or $47.8 billion.
The House Financial Services Committee voted 26-22 to advance legislation to exempt certain lenders from small-business lending data reporting requirements.
The CFPB will issue a final rule to remove disparate impact from enforcement of the Equal Credit Opportunity Act, clarify the prohibition on discouraging prospective applicants, and establish new limits on special-purpose credit programs offered by lenders.
ABA joined three banking sector associations in requesting that the Treasury Department and FDIC tie the public comment period for three proposed rules to implement the Genius Act to the issuance of a final rule on the matter...
Peoples in Ohio to acquire Kentucky bank; proposed acquisitions announced of banks in Georgia and Kansas.
The FDIC released guidance with steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Washington state affected by severe weather.
Federal Reserve Governor Christopher Waller proposed that the central bank consolidate core functions such as human resources and IT across the 12 Reserve Banks instead of each bank being responsible for its own operations.
