The Federal Reserve Bank of St. Louis today announced that Alberto Musalem will be its next president and CEO, effective April 2. Musalem most recently was CEO, co-chief investment officer and co-founder of Evince Asset Management, a quantitative investment technology company. He previously was EVP and senior advisor to the president at the New York Fed. He succeeds Jim Bullard, who resigned in July 2023.
The Treasury Department is exploring ways to streamline the filing process for suspicious activity reports and currency transaction reports as part of a broader effort to modernize BSA enforcement, Deputy Secretary of the Treasury Michael Faulkender said.
While there was a temporary stall in bank merger activity in early 2025 because of the economic fallout of tariffs and other Trump administration policies, overall quarterly deal announcements have held steady, according to a new analysis by...
The CFPB is proposing to stop using funds from its Civil Penalty Fund to finance consumer education and financial literacy programs, saying the practice created incentives for regulators to bring enforcement actions “for the purpose of aggrandizing the...
The Federal Open Market Committee announced that it will hold the target range for the federal funds rate at 4.25%-4.5%.
FAFT announced several revisions to its recommendation on payments transparency, which it said will enhance the safety and security of cross-border payments to better detect financial crime.
Privately-owned housing units authorized by building permits in May increased to a seasonally adjusted annual rate of 1.393 million, according to the U.S. Department of Commerce.
