Numerous ABA Members Named to Fed Payments Task Force

Federal Reserve Governor Christopher Waller provided an update on the feedback the Fed received about a proposal to create “skinny” accounts for payment services, acknowledging that banks and financial technology firms want conflicting things from the proposed service.

ABA voiced support for several provisions in a legislative package intended to boost housing availability in the U.S., including language to raise supervisory thresholds for community banks and to encourage new bank formation.

The Government Accountability Office released the first of two reports on the Trump administration’s efforts to scale back the activities of the CFPB, providing a timeline of bureau layoffs and office closures.

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

The Office of Foreign Assets Control has launched an online portal for individuals to submit voluntary self-disclosures of potential violations of OFAC-administered sanctions programs.

The FDIC announced that it will push back to May the deadline for comment on its proposal to create a process through which banks can seek agency approval to issue stablecoins through a subsidiary.