All participants in the payments system must work together to ensure that payment innovation advances safely, Federal Reserve Governor Jerome Powell said today at a payments conference in Kansas City.
Personal income increased $79 billion, or 0.5 percent, in May according to the Bureau of Economic Analysis, the same pace as the previous month. Personal consumption expenditures (PCE) increased $105.9 billion, or 0.9 percent, in May after increasing only 0.1 percent in April.
Case: Texas Department of Housing & Community Affairs, et al. v. Inclusive Communities Project, Inc., et al. Issue: Whether disparate impact claims are cognizable under the Fair Housing Act (FHA). Case Summary: The U.S. Supreme Court ruled that disparate impact claims may be alleged under the FHA. Inclusive Communities Project, Inc. (ICP) brought a disparate
American confidence in banks edged up to its highest point since 2008, according to Gallup’s annual “Confidence in Institutions” survey.
The Federal Reserve recently released the roster of those selected for its Faster Payments Task Force, a group representing all stakeholders in the payments industry to help identify approaches to creating a better, faster and safer U.S. payments system.
ABA today urged the Federal Reserve to approve the recent rule change from NACHA, the electronic payments association, that would require financial institutions to have same-day ACH capability and require sending institutions to pay a 5.2 cent per-transaction fee to offset the costs of participating in same-day ACH.
As Consumer Financial Protection Bureau Director Richard Cordray announced last week, the CFPB today issued its formal proposal delaying the effective date of the TILA-RESPA integrated disclosures.
The Federal Reserve is pursuing improvements to the stress testing process of systemically important banks, Fed Vice Chairman Stanley Fischer said today in a speech at a conference in Stockholm. In addition asking for feedback from financial institutions, the Fed asked market analysts and academics to come forward with suggestions on “how to overhaul the process,” Fischer said.
U.S. Real GDP for the first quarter decreased at a rate of 0.2 percent, according to the third estimate released by the Bureau of Economic Analysis. The second estimate had reported a 0.7 percent decline.
Farm Credit System lenders are not just lending to large, investor-owned utilities – they’re bragging about it.