The Federal Reserve announced it joined other banking agencies and the Financial Crimes Enforcement Network in permitting banks to obtain a Tax Identification Number from a third party rather than directly from customers.

Personal income and spending each increased 0.3% in June, the Commerce Department reported. From the same month one year ago, the PCE price index increased 2.6%.

ICBA published a new summary of the GENIUS Act for ICBA members and next week is scheduled to host a complimentary community bank briefing on the act and other digital asset policy developments.