Mortgage rates rise

Consumer credit increased at a seasonally adjusted annual rate of 3.2% in the first quarter, with revolving and nonrevolving credit increasing 3.8% and 3%, respectively, according to the Federal Reserve.

Consumer inflation expectations in April increased at the short-term horizon and remained unchanged at the medium- and longer-term horizons, according to the Federal Reserve Bank of New York’s Survey of Consumer Expectations.

The Colorado bill is similar to the Illinois Interchange Fee Prohibition Act, or IFPA, which bans banks, payment networks and other entities from charging or receiving interchange fees on the portion of a debit or credit card transaction...

The associations also requested that Treasury clarify it will not penalize state regulators for filing an initial certification later than the one-year anniversary of the Genius Act’s effective date; or alternatively permitting them to file a status report...

Thirty-nine percent ranked cost cutting as their top priority (up from 33% in mid-2024). Revenue growth rose from seventh to second (31%). In addition, 30% said contributing to business-wide digital transformation is a top priority.

The magazine says its annual ranking includes the “experts and advocates, outside the government, who are playing big roles” in Washington, D.C., policy. It highlighted Nichols' skilled advocacy to ensure banks are able to continue providing affordable mortgages...