The Federal Reserve announced today that it will maintain its current fee schedules for priced services for most payments services in 2021. The Fed acknowledged the uncertainties created by the coronavirus pandemic and said it intends to hold most prices steady “in order to support the business planning of users and providers of payment services.” The Fed said it will publish a final list of 2021 fee schedules in the Federal Register later this year.
The U.S. manufacturing sector contracted in June for the fourth month in a row, following a two-month expansion preceded by 26 straight months of contraction. The ISM Manufacturing PMI® registered 49%, 0.5 percentage points (pp) lower compared to...
Construction spending during May 2025 was estimated at a seasonally adjusted annual rate of $2,138.2 billion, 0.3% below the revised April estimate of $2,145.5 billion. The May figure is 3.5% below the May 2024 estimate of $2,215.4 billion....
ABA submitted a comment letter to the IRS requesting that the agency delay by 12 months the effective date of its new "code Y" reporting requirement on Forms 1099-R and 5498 for qualified charitable distributions made by individual...
In addition to California, for example, five states are currently debating similar laws for companies of various sizes. Among other recommendations, ABA also recommended flexibility in how commercial loan exposures and emissions are categorized by industry.
The strength of the federal banking system remains sound, the OCC reported in its most recent semiannual risk perspective report. The report covers risks facing national banks, federal savings associations, and federal branches and agencies based on data...
ABA sent a letter in response to the Treasury's request for information regarding modernizing payments to and from the U.S. government, outlines recommendations to help the agency reach its deadline to transition all federal payments that are currently...
