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.
Travis Hill has been sworn in as the 23rd chairman of the FDIC, the agency announced. He has served as FDIC acting chairman since the beginning of 2025.
The ABA Office of the Chief Economist believes the most recent reading supports the notion that inflation has not reaccelerated, providing some additional flexibility for the Fed to support the labor market. For banks, this could bolster credit...
The Federal Reserve’s independence and the public’s perception of that independence are critical for U.S. economic performance, a group of former Treasury secretaries and Fed chairs, including Ben Bernanke and Alan Greenspan, said in a joint statement.
A recent court ruling imposing a new interpretation of the Federal Reserve’s standard for setting debit card interchange fees would be “extraordinarily harmful and needlessly disruptive to the diverse set of stakeholders in the debit card market —...
Trillions of dollars for community lending could be lost if lawmakers fail to close a loophole crypto firms could use to bypass the Genius Act’s prohibition on paying interest or yield on payment stablecoins, ABA and seven banking...
Credit risk associated with large, syndicated bank loans remains moderate, with credit risk trends reflecting the effects of borrowers' ability to manage higher interest expenses and other macroeconomic factors, three banking agencies said in their most recent Shared...
