Personal income increased 0.3%, or $75.1 billion, in July, the Commerce Department said today. The personal savings rate—a percentage of disposable personal income—was 2.9%. Meanwhile, personal consumption expenditures increased 0.5%, or $103.8 billion.
Narrow supervisory standards, inconsistent approval timelines and other regulatory impediments are limiting new bank formation and leading to further consolidation in the financial sector, ABA said.
Nearly three in four small business owners believe they can withstand revenue shortfalls for only two quarters before becoming concerned about the future of their businesses, according to a recent survey by TD Bank.
In a recent speech, Acting Comptroller Rodney Hood outlined his top priorities for the OCC, including efforts to promote financial inclusion and expand the banks’ ability to provide cryptocurrency services.
ABA strongly supports several provisions in the federal budget reconciliation tax package, including language to make permanent the Section 199A pass-through deduction, ABA President and CEO Rob Nichols said.
Chickasaw Banc Holding in Oklahoma City has agreed to buy Oklahoma Heritage Bank in Ada.
The NFIB Small Business Optimism Index declined by 1.6 points in April to 95.8, the second consecutive month below the 51-year average of 98.
