Browsing: Fed dividends

Legal

A federal judge yesterday heard oral arguments in the lawsuit filed by ABA and Seattle-based Washington Federal seeking over $1.1 billion in damages resulting from the United States’ improper reduction in dividends paid to Federal Reserve member banks.

Legal

Let’s hope the FAST Act’s thievery serves as a wake-up call to banks that our industry is much stronger when we fight together.

Economy

In remarks to the general session of ABA’s Government Relations Summit today, Senator Sherrod Brown (D-Ohio) said that “the days of the Senate Banking Committee and its dysfunction and its less-than-busy work ethic, I hope, are behind us,” expressing his optimism for bipartisan cooperation as Congress pursues pro-growth policies.

Newsbytes

A Government Accountability Office report on Friday found that although the 2015 highway bill’s reduction in the dividend rate for Federal Reserve member banks with assets of more than $10 billion has had little short-term effect on Federal Reserve membership and bank operations, concerns arise for the future.

Economy

The Federal Reserve today made an annual inflation adjustment to the asset threshold in Regulation I that determines the dividend rate that certain member banks earn on Federal Reserve Bank stock, as required by the 2015 transportation spending bill. The threshold for 2017 is now set at $10.122 billion in assets.

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