SEC Seeks Feedback on Improving Resilience of Money Market Funds

Banks don’t charge consumers fees to access their data, and because of banks’ innovation and investments in secure systems, consumers have access to more financial products and secure services than ever, ABA and two associations said in response...

The Federal Reserve’s proposed revisions to the large bank rating system “are necessary and common-sense changes that would rationalize the ratings process and should be adopted without delay,” ABA and BPI said in a joint letter.

The federal government will stop issuing paper checks for most payments on Sept. 30, so individuals who receive a federal benefit check should make sure they have switched to electronic payments by then, the Treasury Department said.

The rate for a 30-year fixed-rate mortgage was 6.58% this week. The rate for a 15-year fixed-rate mortgage was 5.71%.

The Producer Price Index increased 0.9% in July from the previous month, the Labor Department reported.

Financial institutions are “top targets” for phishing attacks, accounting for more than half of all phishing attacks globally, according to a new report.