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.
Two former National Credit Union Administration board members have filed a lawsuit in federal court challenging their terminations, calling the decision by President Trump “patently unlawful.”
The banking sector remains sound and resilient overall, and most banks continue to report capital levels well above regulatory requirements, the Federal Reserve said in its first Financial Stability Report of 2025.
The FCC voted to advance an ABA-backed proposal to create a new call authentication requirement designed to limit criminal access to the U.S. calling network.
A federal court in California issued a temporary restraining order preventing enforcement of a FinCEN order requiring money services businesses to report certain cash transactions along part of the U.S.-Mexico border.
The Small Business Administration has reinstated stronger underwriting requirements for 7(a) loans through the issuance of a Standard Operating Procedure document.
So far in 2025, property and casualty insurers in the S&P 500 are up about 4.9%, compared with declines for banks (-10.0%) and the broader index (-8.6%).
