Fed’s Bowman calls for CECL repeal

A federal appeals court should uphold a district court ruling and reject a retailer lawsuit seeking to overturn how the Federal Reserve calculates debit card interchange fees, as a decision in favor of retailers would result in substantial...

ABA expressed support for the FCC’s proposals to strengthen its numbering policies — which govern how phone numbers are distributed and sold — to combat criminals who place illegal calls that impersonate banks and other legitimate businesses.

ABA urged the FDIC to harmonize its proposed rulemaking to implement the Genius Act with rules put forward by other federal agencies to ensure a fair and competitive regulatory landscape for payment stablecoin issuers.

The FDIC is exploring whether to “significantly” slim down its resolution planning requirements for large banks and make several adjustments to the Deposit Insurance Fund's assessment framework, including reducing assessment rates, FDIC Chairman Travis Hill said.

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced that the goods and services deficit was $55.9 billion in April, down $0.7 billion from $56.6 billion in March, revised.

Existing home sales increased 3.2% in May to a seasonally adjusted annual rate of 4.17 million. Month-over-month and year-over-year sales increased 3.2%.