Personal income increased 0.5% in March

ABA participated in a meeting at the White House with other banking representatives and cryptocurrency leaders to discuss proposed crypto market structure legislation currently pending in Congress.

Banks expect lending standards generally to remain unchanged and demand to strengthen across all loan categories in 2026. Banks also reported being less likely to approve loans to firms adversely affected by high AI exposure.

Economic activity in the manufacturing sector expanded in January for the first time in 12 months, according to the Institute for Supply Management.

ABA is recommending that the IRS make several changes to its proposed regulations to implement a new tax deduction for certain automobile purchases, saying the revisions would greatly reduce the compliance burden for taxpayers.

ABA offered several recommendations in response to a request by banking agencies on steps to streamline the regulatory reporting burden in filing a Call Report.

Illinois regulators closed Metropolitan Capital Bank & Trust in Chicago and appointed the FDIC as receiver. First Independence Bank in Detroit has agreed to assume substantially all of the failed bank’s deposits.