President Joe Biden today announced that he will nominate Danny Werfel to serve as IRS commissioner. Werfel most recently was managing director and partner at management consulting company Boston Consulting Group. He previously spent eight months as acting IRS commissioner under former President Barack Obama and was controller of the Office of Management and Budget.
ABA has raised concerns about the stress test process in the past, citing a lack of transparency in the process and that it has resulted in higher capital rules that hurt bank lending and economic growth.
The U.S. Court of Appeals for the Fifth Circuit on Monday reinstated the enforceability of the Corporate Transparency Act and lifted the nationwide injunction issued by the district court judge earlier this month.
A federal judge today ordered a preliminary injunction against enforcement of an Illinois state law restricting interchange fees for national banks and federal savings associations but left the law in effect for Illinois-chartered institutions and credit card networks...
Americans should be deeply skeptical of a CFPB lawsuit against the operator of Zelle and participating banks in the final days of the Biden administration, ABA President and CEO Rob Nichols said.
The PNC Christmas Price Index, which tracks the cost of a full set of gifts from "The Twelve Days of Christmas," rose 5.4% to $49,263.47 in 2024, compared to a 2.7% rise in 2023.
The University of Michigan Consumer Sentiment Index increased 3.1% in December compared to the month prior, landing at 74, according to final results for the month. The December figure was up 6.2% from a year ago.
