Starting in November, the FedNow Service network transaction limit will be increased from $1 million to $10 million in response to growing commercial demand, according to Federal Reserve Financial Services.
Financial institutions will continue to have flexibility to set lower transaction limits based on internal risk parameters and business needs, FedNow said. The service currently has more than 1,400 participating organizations across all 50 states.
The University of Michigan Consumer Sentiment Index increased 6.6% in January compared to the month prior, landing at 56.4, according to final results for the month.
The House Financial Services Committee advanced three bills supported by ABA, covering regulatory tailoring for community banks, reauthorization of the Terrorism Risk Insurance Program, and raising Bank Secrecy Act reporting thresholds.
In 2025, just 54% of U.S. adults reported drinking alcohol, the lowest level Gallup has ever recorded, as a majority of Americans now believe even moderate drinking is bad for their health.
Small business owners' priorities and how banks can meet their needs in 2026, from SBA lending to succession planning and acquisition financing.
The FDIC has approved two deposit insurance applications submitted by automobile manufacturers Ford and GM to establish industrial banks, according to an agency statement.
The rate for a 30-year fixed-rate mortgage was 6.09% this week. The rate for a 15-year fixed-rate mortgage was 5.44%.
