Fed’s Paycheck Protection Program Facility Is Up and Running

President Trump nominated Danielle Thumann, senior counsel to Federal Communications Commission Chairman Brendan Carr, to serve as commissioner on the FCC. If confirmed by the Senate, Thumann would fill one of two vacant seats on the commission.

The Senate adjourned without holding a final vote on the Clarity Act, punting further action on the bill until at least September.

FinCEN renewed a geographic targeting order requiring certain banks and money transmitters located in Hennepin and Ramsey counties, which include Minneapolis and St. Paul, to report additional information for transactions of $3,000 or more to recipients outside the...

Consumer credit increased at a seasonally adjusted annual rate of 2.6% in the second quarter, with revolving and nonrevolving credit increasing 3.9% and 2.1%.

Consumer inflation expectations in July decreased slightly at the short-term horizon and remained unchanged at the medium- and longer-term horizons, the Federal Reserve Bank of New York said in its most recent Survey of Consumer Expectations.

The Senate confirmed John Crews as a member of the National Credit Union Administration board as part of a block of nominations up for consideration. In his new position, Crews will likely lead the agency.