Personal Finance

BEA's July 2026 data show real disposable personal income grew 0.4% while inflation-adjusted consumer spending increased less than 0.1%, pushing the personal saving rate up to 3.0% from June's 2.6%. The gap between income growth and spending growth indicates that aggregate households directed more of their after-tax income toward saving rather than consumption. Core PCE inflation held at 3.3% year over year, providing context for why nominal spending gains did not translate into meaningful increases in real purchases.

Mortgage servicer NewRez LLC settled with 47 jurisdictions in August 2026 for charging more than 4,200 borrowers for force-placed insurance even when those borrowers already had active homeowners' policies. The $15.5 million total includes a $9.9 million penalty, roughly $1.1 million in administrative costs, and a credit for $4.5 million in consumer relief already paid. Affected borrowers do not need to file a claim — NewRez is required to identify and refund eligible customers itself, including through an ongoing self-audit of newly boarded loans.