The Federal Reserve should adopt a long-term approach to phasing out its check services by encouraging electronic payment alternatives, and it should discontinue select paper check services that can be eliminated without causing unnecessary pain, ABA and the...
President Trump formally submitted to the Senate the nomination of Kevin Warsh to be the next chair of the Federal Reserve. Trump first announced Warsh as his nominee in January.
The nonfarm private sector added 63,000 jobs in February, and annual pay was up 4.5% year-over-year, according to the ADP National Employment Report. This follows a downward revision of January’s report from 22,000 jobs to 11,000.
The ABA Office of the Chief Economist believes the data is pointing to continued strength in the services sector, a key driver of U.S. economic activity and recent gross domestic product growth.
Saying that bank liquidity is “the next big-ticket item” for regulatory reform, top officials at the Treasury Department and Federal Reserve outlined their case for revisiting the liquidity coverage ratio to recognize discount window borrowing capacity.
The OCC finalized a rule to revise licensing requirements for community banks and eliminated a system used to monitor national bank compliance with fair housing laws, both as part of a broader effort to reduce the regulatory burden...
