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 6.22% this week, up from 6.17% last week. The rate for a 15-year fixed-rate mortgage was 5.50%, up from 5.41% last week.
The agency has posted information and resources to its disaster page for institutions in Alaska affected by severe storms, flooding, and Typhoon Halong as well as for banks in areas of the Leech Lake Indian Reservation in Minnesota...
Artificial intelligence tools are at the heart of large banks’ innovation strategies, according to CEOs of BNY, Wells Fargo and U.S. Bancorp.
The Federal Reserve finalized revisions to its supervisory rating framework for large banks to address the “well managed” status of the institutions.
As the Treasury Department crafts regulations to implement the Genius Act, it should seek to preserve the benefits of payment stablecoins without causing unnecessary risks for customers, credit availability and financial stability, ABA and four associations said in...
Total household debt increased by $197 billion to $18.59 trillion in the third quarter of 2025, according to the latest Quarterly Report on Household Debt and Credit by the Federal Reserve Bank of New York.
