Fed proposes opening FedNow to cross-border payments

Federal Home Loan Bank members should be allowed to use short-term FHLB letters of credit to secure advances through the Federal Reserve’s discount window, the Council of FHLBs suggested in a recent letter to FHFA Director Bill Pulte.

Industrial production dropped 0.5% in March from the previous month, the Federal Reserve reported. The March figure was up 2.4% from a year prior.

The rate for a 30-year fixed-rate mortgage was 6.3% this week. The rate for a 15-year fixed-rate mortgage was 5.65%.

A recent study of more than 150 years of U.S. bank data has concluded that weak fundamentals are the primary driver of bank failures, and that strong banks usually survive runs.

The eleven Democratic members of the Senate Banking Committee called for the committee to delay the nomination hearing for Kevin Warsh to be Federal Reserve chairman until the Trump administration drops its investigations into current Chairman Jerome Powell...

The Fair Credit Reporting Act is a critical consumer protection law that supports responsible lending, and policymakers should avoid changes that could restrict credit availability by reducing data accuracy or adding complexity, banker Veneshia Ferdinand told House lawmakers...