Retail and food service sales for July were $726.3 billion, up 0.5% from the previous month, the Commerce Department said in its advance estimate. Sales were up 3.9% from a year ago. Excluding automobiles and gasoline, sales were up 0.2% from the previous month and up 4.4% from last year.
The IRS will issue a final rule to implement a new tax deduction for certain automobile purchases, according to a notice in the Federal Register.
More than two in five U.S. consumers said they have encountered a scam powered by artificial intelligence, either personally or through someone they know, according to a recent survey by Credit One Bank.
More than two in five middle-income renters say they earn more than their parents did at the same age but still can’t afford a home, according to a recent survey by Neighbors Bank in Missouri.
ABA economists view this month’s strong payroll report as a positive catalyst for business and consumer loan demand. The continued low unemployment rate should also keep consumer credit performance strong.
Bank Secrecy Act reports flagged approximately $12.7 billion in suspected digital asset investment scam activity during a roughly two-year period beginning in 2023, showcasing the extent of the problem, according to a FinCEN analysis. The agency also published...
Years of duplicative, one-size-fits-all regulation have strained the diversity of the banking sector, with the burden falling hardest on community banks, Kathy Kraninger, president and CEO of the Florida Bankers Association, told House lawmakers.
