Powell Discusses Coronavirus Recovery, Effect on LMI Communities
Federal Reserve Chairman Jerome Powell told members of the Senate Banking Committee today that he expects the U.S. economy to...
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Powell: Main Street Lending Facility to Open ‘Within a Week or So’
After officially opening the Main Street Lending Program for lender registration yesterday, Federal Reserve Chairman Jerome Powell said its corresponding...
FDIC Chairman: Banks a ‘Source of Strength’ During Pandemic, Despite Drop in Profitability
FDIC-insured banks and savings institutions earned $18.5 billion in the first quarter of 2020, a 69.6% decline from a year...
Industrial Production Rises in May
Industrial production increased 1.4% in May, as factories resume partial operations after COVID-19 related suspensions. Manufacturing output increased 3.8% in...
Retail Sales Surge in May
There was $485.5 billion in retail and food service sales in May, up 17.7% from April but 6.1% below the...
ABA Voices Strong Opposition to CU Bank Acquisition Proposal
In a letter to the National Credit Union Administration today, ABA vigorously opposed a proposal that would formalize a process...
FHFA Calls on Congress to Pursue Housing Finance Reform in Annual Report
In the Federal Housing Finance Agency’s annual report to Congress today, the agency outlined several legislative steps it is seeking...
‘Main Street’ Program Opens for Lender Registration
Lenders may now register for the Federal Reserve’s Main Street Lender Program, the Boston Fed announced today, adding that lenders...
Fed to Resume Bank Examination Activities
The Federal Reserve today announced that it will resume its normal bank examination activities
Senators Call on SBA, Treasury to Streamline PPP Forgiveness Process
A bipartisan group of senators on Friday wrote to Treasury Secretary Steven Mnuchin and Small Business Administration Administrator Jovita Carranza...
