FOMC releases tentative meeting schedule for 2025, 2026

Christopher Maher has been named chair of ABA’s American Bankers Council for the 2026–2027 membership year. Maher is CEO of OceanFirst Financial Corp. and OceanFirst Bank, a New Jersey-based institution.

While the unemployment rate remains relatively low, a continued deterioration in labor market conditions could lead to some weakening in overall credit performance in the months ahead.

An FDIC interim final rule updating its reciprocal deposit regulations provides helpful clarifications that simplify compliance for banks, ABA said in a letter to the agency.

FinCEN issued an alert and proposed new rulemaking to designate transactions to the Russia-linked A7 Network as transactions of primary money laundering concern, with Iranian actors allegedly using the network to evade sanctions.

The Senate passed by voice vote a bill to ensure that robberies of off-site ATMs carry the same legal consequences as bank robberies.

The rate for a 30-year fixed-rate mortgage was 7.28% this week. The rate for a 15-year fixed-rate mortgage was 6.6%.