The online lending study by researchers at the Federal Reserve Bank of Cleveland originally discussed on this page has been challenged by many sources over its use of the term “P2P” and the data underlying the research. Since these problems might invalidate the study’s conclusions as summarized in the original article, we have decided to retract this article to avoid confusion and inadvertent error.
— THE EDITORS
In related news, a federal judge issued a temporary restraining order preventing the Trump administration from firing more than 4,000 federal workers during the government shutdown, including staff at the Treasury Department, which houses the CDFI Fund.
Most of the 12 Federal Reserve districts reported relatively little change in economic activity since September, according to the Fed's Beige Book report.
Banking regulators reiterated that there is no supervisory or Bank Secrecy Act requirement that financial institutions conduct a review of a customer or account after the institution has filed a suspicious activity report, and there is no requirement...
The FDIC will allow private equity firms and other nonbanks to bid on failed banks to soften the blow to the DIF after an institution’s closure. The agency is also drafting a proposal to revise its large bank...
The NFIB Small Business Optimism Index declined two points in September to 98.8, according to the National Federation of Independent Business.
The award recognizes individuals who have made significant contributions to the financial crimes profession and demonstrated leadership, integrity and service throughout their careers.
