The Financial Crimes Enforcement Network announced today that it will extend the deadline for certain filings of Form 114 (the Report of Foreign Bank Account, or FBAR) in light of a notice of proposed rulemaking issued in March to clarify who is exempt from filing the report under the Bank Secrecy Act. The new deadline for FBAR filing is April 15, 2018. FinCEN also announced that it would maintain April 15 as the annual FBAR filing due date going forward.
President-elect Trump on Friday nominated hedge fund manager Scott Bessent as Treasury Secretary. Bessent is the founder of investment firm Key Square Group.
The U.S. banking system remained sound and resilient, with regulatory capital ratios approaching or exceeding historical highs, the Federal Reserve said in the second of its two yearly reports on the nation’s financial stability.
The FedNow instant payments service saw nearly $17.5 billion in transactions in the third quarter of the year, up from less than $500 million in the second quarter.
The average cost of this year's classic holiday feast is $58.08, a decline of 5% from 2023. Still, a Thanksgiving meal is 19% higher than it was in 2019, pre-pandemic.
The Federal Reserve announced 2025 pricing for payment services the Federal Reserve Banks provide to banks and credit unions, with an estimated 2.8% average price increase for established, mature services.
The University of Michigan Consumer Sentiment Index rose 1.8% in November compared to the month prior, landing at 71.8, according to final results for the month.
