Newsbytes

ABA Responds to Agencies’ Volcker Rule Regulatory Reform Proposal

The American Bankers Association today offered feedback to the financial regulatory agencies on proposed reforms to the Volcker Rule that would simplify the rule’s compliance burden and better target its effects toward intended activities. In the comment letter — which reflected input from three ABA-led banker working groups — the association commended the agencies for their efforts to amend the ...

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FOMC Minutes Signal Gradual Rate Hikes to Continue

The Federal Open Market Committee (FOMC) determined that further gradual increases of the federal funds rate “would most likely be consistent with a sustained economic expansion, strong labor market conditions, and inflation near 2 percent over the medium term,” according to the minutes from the September 25-26 meeting. Officials agreed to remove the sentence in the postmeeting statement describing that ...

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Housing Starts Down 5.3 percent in September

Housing starts decreased to a seasonally adjusted annual rate of 1.201 million in September, according to the U.S. Department of Commerce. The figure was 5.3 percent below the August rate of 1.268 million and 3.7 percent higher than the September 2017 rate. Single-family home starts fell 0.9 percent from last month. Multifamily decreased 12.9 percent since August and are up 4.5 percent ...

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Fed Survey: Payment Fraud Remains Rare

Payment fraud remains rare, representing small fractions of 1 percent of the total number and the total value of payments, according to the Federal Reserve Payments Study released today.

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