Fed: More than 100 institutions using FedNow

Nearly 80% of commenters on the Federal Reserve’s proposed rule to lower the cap on debit card interchange fees oppose the idea, according to a new analysis by ABA.

The House GOP steering committee has endorsed Rep. French Hill (R-Ark.) to chair the House Financial Services Committee in the next Congress.

Banks and bank regulators can do more to address financial fraud, but they also need third parties such as social media platforms and telecommunications providers to do their part, Acting Comptroller of the Currency Michael Hsu said.

The banking industry reported net income of $65.4 billion in the third quarter of 2024, a decrease of $6.2 billion, or 8.6%, from the prior quarter, according to the FDIC.

The Producer Price Index increased 0.4% in November from the previous month and shows prices rose 3% from a year before, the Labor Department reported.

The cumulative trading revenue of U.S. commercial banks and savings associations was $16.5 billion in the third quarter of 2024, the OCC reported.