Powell confirmed to second term as Fed chairman
By a vote of 80 to 19, the Senate confirmed Jerome Powell to a second term as chairman of the Federal Reserve.
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DOJ issues guidance for employers on use of AI, algorithms in hiring processes
The Department of Justice issued guidance on the use of algorithms and artificial intelligence in hiring processes and employers’ responsibilities under the Americans with Disabilities Act.
J.D. Power survey: Direct banks grow popularity through customer service
As more of our lives continue to shift to digitally based providers, direct banks are in a position to gain market share and mindshare by delivering around-the-clock access and products with attractive fee structures and interest rates.
ACH Network shows strong Q1 growth
B2B payments increased by 15.5% from Q1 2021, with more than 1.4 billion ACH B2B payments made. It’s also a 35.5% increase from Q1 2020,
Producer prices rose 0.5% in April
The Producer Price Index for final demand increased 0.5% in April, seasonally adjusted, the U.S.…
Groups publish AML best-practices compliance guide for MSBs
A group of money services businesses, working with other interested parties including the American Bankers Association, issued a best-practices guide for MSBs related to anti-money laundering and Bank Secrecy Act compliance.
Banking agencies issue updated flood insurance guidance
The banking agencies issued a set of reorganized, revised and expanded interagency questions and answers on flood insurance compliance.
FHFA joins NGFS
The Federal Housing Finance Agency has become a member of the Network of Central Banks and Supervisors for Greening the Financial System. FHFA is highlighting the increasing risk to property from climate change, including severe structural damage caused by hurricanes, tornadoes, floods, droughts and wildfires.
Consumer prices rise in April
The Consumer Price Index increased 0.3% in April on a seasonally adjusted basis, according to…
Survey: Banking outpaces other industries in preparing to combat fraud and corruption
The banking sector is among the most prepared industries to combat fraud, corruption and illicit activity, according to a recent report.