Personal income decreased 0.4%, or $109.6 billion, in May, the Commerce Department said. The personal savings rate — a percentage of disposable personal income — was 4.5%. Meanwhile, personal consumption expenditures increased 0.1%, or $29.3 billion.
The March increase in pending home sales is reflective of increased inventory and pent up demand despite higher mortgage rates.
Advance estimates of U.S. retail and food services sales for March were $752.1 billion, up 1.7% from the previous month, and up 4% from a year ago, according to the U.S. Census Bureau.
An independent supervisory appeals process at the OCC would serve as a crucial backstop to support and promote fair and consistent supervision, ABA said.
Nebraska lawmakers have passed legislation requiring social media companies to take steps to detect and remove fraudulent advertising on their platforms.
OFAC reauthorized Russian oil exports through May 16 to ease economic pressure from rising fuel prices due to military operations in Iran.
The Financial Services Information Sharing and Analysis Center has published a sector risk advisory with recommendations on managing cybersecurity and resilience risks stemming from bad actors using artificial intelligence to find vulnerabilities in an organization’s cyber defenses.
