Personal income increased 0.4%, or $92 billion, in December 2024, the Commerce Department said today. The personal savings rate — a percentage of disposable personal income — was 3.8%. Meanwhile, personal consumption expenditures increased 0.7%, or $133.6 billion.
The rate for a 30-year fixed-rate mortgage was 6.3% this week. The rate for a 15-year fixed-rate mortgage was 5.53%.
Community bankers gathered at the Federal Reserve to talk about the challenges facing their sector, with some proposing it is time to take another look at the community bank leverage ratio.
Treasury Secretary Scott Bessent shared several steps the Trump administration plans to take to drive a “community bank comeback,” including a renewed push for regulatory tailoring, a review of core platform providers, friendlier capital requirements, and revised requirements...
The Federal Reserve has released an FAQ and two templates that mutual banks can use as they consider engaging in raising capital.
The Fed announced that Fedwire Funds Service and National Settlement Service operations will be expanded to include Sundays and weekday holidays.
FinCEN announced the renewal of geographic targeting orders that require U.S. title insurance companies to identify the natural persons behind shell companies used in non-financed purchases of residential real estate.
