Fed reschedules ISO 20022 implementation for Fedwire

BNPL is now the fourth most accepted form of payment at small businesses, behind debit or credit cards, digital wallets, and cash. At the same time, merchants express growing interest in cryptocurrency.

Lawmakers have agreed to budget $324 million for the Community Development Institutions Fund in fiscal year 2026, which would maintain the program’s funding at current levels, according to a conference report released by the Senate Appropriations Committee.

The rate for a 30-year fixed-rate mortgage was 6.06% this week. The rate for a 15-year fixed-rate mortgage was 5.38%.

While the Trump administration’s concern about affordability is commendable, a proposed 10% cap on credit card interest rates would hurt the very people the president is seeking to help, American Bankers Association President and CEO Rob Nichols told...

Federal Home Loan Bank advances are “strongly associated” with higher lending across banks and credit unions, particularly following the 2008 financial crisis, according to new research by the Urban Institute.

Senate Banking Committee Chairman Tim Scott (R-S.C.) delayed a scheduled committee vote on cryptocurrency market structure legislation. Banking advocates have sent more than 10,000 letters to Senate offices in recent days calling on Congress to use the bill...