Browsing: Policy

Economy Fed’s Brainard sees progress on inflation fight

Inflation has declined in recent months, but the Federal Open Market Committee will likely need to continue pursuing a restrictive policy stance to bring inflation back down to the committee’s 2% goal, Federal Reserve Vice Chair Lael Brainard said this week.

Newsbytes CFPB issues warning on auto-renewal subscription services

The Consumer Financial Protection Bureau this week issued a circular warning that subscription services that automatically re-enroll customers may violate the law if they do not clearly disclose their terms and obtain consumer consent, or if they make it “unreasonably difficult” for consumers to cancel.

Newsbytes ABA recommends making Fed’s master accounts data public

The American Bankers Association supports a proposal to publish a periodic list of depository institutions that have access to Federal Reserve accounts—often referred to as “master accounts”—and payment services, the association said this week in a comment letter.

Newsbytes Hsu: Divestiture best solution for banks ‘too large to manage’

The most effective way to successfully fix issues at a bank that is “too large to manage” is to simplify by divesting businesses, curtailing operations and reducing complexity, Acting Comptroller of the Currency Michael Hsu said this week, adding that regulators must have “credible, transparent mechanisms” to compel those divestments when necessary.

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