Consumer credit decreased at a seasonally adjusted annual rate of 1.8% in November 2024, the Federal Reserve reported today. Nonrevolving debt—the category that includes auto loans and student loans—increased at an annual rate of 2%, while revolving debt, which includes credit cards, decreased at an annual rate of 12%
The CFPB announced it has officially recognized the Financial Data Exchange as a standard-setting body under the bureau’s financial data-sharing regulation.
In response to an industry petition, the CFPB announced that it will pursue rulemaking to allow it to regulate large nonbanks in the personal loan market.
Several new faces have joined the House Financial Services Committee for the 119th Congress. The committee will be chaired by Rep. French Hill (R-Ark.), with Rep. Maxine Waters (D-Calif.) remaining ranking member
The nonfarm private sector gained 122,000 jobs in December and annual pay was up 4.6% year-over-year, according to the ADP National Employment Report. This follows an unchanged November report of 146,000 jobs.
Higher-than-expected readings on inflation, along with expected changes in U.S. policy on trade and immigration, suggest to several Federal Open Market Committee members that it may take longer than originally anticipated for the Federal Reserve to reach its...
The Biden administration announced the official launch of the U.S. Cyber Trust Mark program, a voluntary cybersecurity labeling program for internet-connected devices.
