Personal income increased 0.2%, or $50.5 billion, in August, the Commerce Department said. The personal savings rate—a percentage of disposable personal income—was 4.8%.
The FDIC rescinded a 2023 financial institution letter that had stated that banks’ charging representment nonsufficient funds fees may be a deceptive or unfair practice under section 5 of the Federal Trade Commission Act.
New orders for manufactured goods in February increased $300 million from the month prior to $620.1 billion, marking the second consecutive month in which the totals were virtually unchanged.
With the rise of competing professional golf tours, prize money across major tournaments has increased to record levels.
ABA joined four associations in providing recommendations for how the SEC could reform its regulations for cybersecurity disclosures by businesses.
The ABA Office of the Chief Economist believes that this month’s spike in consumer prices reflects the renewed inflationary pressures stemming from recent energy supply shocks.
Nearly four in 10 U.S. adults say they have been victims of fraud, while many more say they worry about becoming victims, according to a recent survey by AARP.
