The University of Michigan Consumer Sentiment Index increased 16.3% in June compared to the month prior, landing at 60.7, according to final results for the month. The June figure was down 11% from a year ago. The current conditions component of the index rose 10% from the month prior, landing at 64.8, while the consumer expectations index increased 21.3% to 58.1.
In a letter, ABA said it is pleased with the CFPB's proposal to revise its small-business lending data rule and offered several recommendations to reduce the compliance burden for banks.
Despite recent softening and apprehension over price increases, consumer spending was robust over the month.
The CFPB is reversing course on its earlier decision to eliminate the procedures under which state officials must notify the bureau if those officials plan to enforce the Consumer Financial Protection Act.
The University of Michigan Consumer Sentiment Index increased 1.8% in July compared to the month prior, landing at 61.8, according to preliminary results for the month.
ABA joined four banking and credit union associations in raising concerns about a push by digital asset firms to establish national trust banks, saying there are significant policy and legal questions as to whether the applicants' proposed business...
Privately-owned housing units authorized by building permits in June increased to a seasonally adjusted annual rate of 1.397 million, according to the U.S. Department of Commerce.
