ABA Supports FDIC Proposal to Rescind Duplicative Disclosure Requirement

The IRS should allow all banks to serve as trustees of initial Trump accounts for children rather than just rollover Trump accounts, ABA said in a letter to the agency.

A federal appeals court ruled that New York State’s interest-on-escrow law is preempted by the National Bank Act, with the decision coming after the U.S. Supreme Court directed the lower court to reconsider an earlier decision on the...

Consumer credit increased at a seasonally adjusted annual rate of 3.2% in the first quarter, with revolving and nonrevolving credit increasing 3.8% and 3%, respectively, according to the Federal Reserve.

The rate for a 30-year fixed-rate mortgage was 6.37% this week. The rate for a 15-year fixed-rate mortgage was 5.72%.

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

The Colorado bill is similar to the Illinois Interchange Fee Prohibition Act, or IFPA, which bans banks, payment networks and other entities from charging or receiving interchange fees on the portion of a debit or credit card transaction...