Consumer credit increased at a seasonally adjusted annual rate of 3.2% in the third quarter of 2024, the Federal Reserve reported today. In September, consumer credit increased at an annual rate of 1.4 percent. Nonrevolving debt — the category that includes auto loans and student loans—increased at an annual rate of 3.4% in Q3, while revolving debt, which includes credit cards, increased at an annual rate of 2.8%.
Three House lawmakers are asking the IRS to update and expand the list of services and treatments for chronic diseases covered under employer-sponsored high-deductible health plans.
ABA is asking Congress to include legislation to help farmers and rural communications in its budget reconciliation process, pointing to the increasingly difficult economic situation facing many farmers and ranchers.
Housing starts decreased by 11.4% in March from the month prior to a seasonally adjusted annual rate of 1.32 million, the Commerce Department reported.
A new survey conducted by Morning Consult on behalf of the ABA Foundation found U.S. adults strongly support youth financial education being taught in schools.
The OCC announced an organizational restructuring that will include combining its Midsize and Community Bank Supervision department with its Large Bank Supervision department.
With the tariffs announced by President Trump much higher than anticipated, the same is probably true of their economic effects, Federal Reserve Chairman Jerome Powell said.
