Stephen Besaha

Even if you take gas out of the equation, spending was up 3.9 percent.

Consumers also bought more tickets to fly, despite airfare being up 27 percent from last year.

David Tinsley is senior economist at the Bank of America Institute, and he says the spending is continuing despite economic tailwinds from inflation.

Almost to a surprising extent, most consumers are weathering those.

But there are some tension points for lower and middle income households.

Their spending growth is actually running still a little bit ahead of their wage growth.

Meaning some consumers have to make that up in other ways, like cutting into how much they're saving or what savings they have.

Stephen Basaha, NPR News.

Multiple news outlets reported this year the Trump administration was drafting an executive order that would require banks collect citizenship data from new customers.

Treasury Secretary Scott Besant told CNBC in May that he did support stricter rules.

But the executive order doesn't add any new rules for banks.

Instead, the advisory warns them to look out for customers with certain red flags.

That includes individuals with a social security number that doesn't match records or a company that has a history of ICE violations.

A bank customer in the U.S.

does not need to be an American citizen to open an account.

Stephen Basaja, NPR News.

For workers that have a 401k, their total savings rate reached about 14.5%.

That is the contribution from both employees and employers, and a record rate according to Fidelity.

Mike Chamrell is vice president of thought leadership at Fidelity Investments.

Fidelity did report some signs of financial stress.