The Federal Reserve Bank of San Francisco today named Mary Daly as the bank’s next president and CEO, effective Oct. 1.

As part of its ongoing effort to update Regulation CC to reflect a payments system that is largely electronic, the Federal Reserve today approved changes to Reg CC’s liability provisions to address situations involving a dispute about whether portions of an electronic check have been altered or whether the item is a forgery.

The Federal Reserve today announced the members of its 2019 Community Depository Institutions Advisory Council, which includes several ABA member bankers.

The Senate today voted 69-26 to confirm economist and monetary policy specialist Richard Clarida to serve as Federal Reserve vice chairman. Clarida is currently a global strategic advisor at Pimco, an American investment firm, and previously served as assistant Treasury secretary for economic policy under the George W. Bush administration. ABA President and CEO Rob Nichols applauded the vote, noting ...

The Federal Reserve Board today issued an interim final rule implementing a provision in S. 2155 that raises the asset threshold for relief under the Fed’s small bank holding company policy statement from $1 billion to $3 billion. It also applies to savings and loan holding companies with less than $3 billion in total consolidated assets. ABA has long advocated ...

The Federal Reserve has launched a new Consumer Compliance Supervision Bulletin that will share information about examiners’ observations and other developments related to consumer protection.

In remarks at ABA’s Summer Leadership Meeting in Salt Lake City today, Federal Reserve Vice Chairman for Supervision Randal Quarles signaled that the Fed would act sooner than required by S. 2155 to tailor prudential standards for banks between $100 billion and $250 billion in assets.

The Federal Reserve will move to implement the provisions of S. 2155 -- the new regulatory reform law -- as quickly as possible, Federal Reserve Chairman Jerome Powell said in testimony before the Senate Banking Committee today.

The largest U.S. banks collectively showed that they can withstand a severe economic downturn and continued to improve their capital positions, according to the results of Dodd-Frank Act-mandated stress tests the Federal Reserve released yesterday. 

As economic conditions continue to improve -- with a robust labor market, inflation moving closer to the 2 percent target and growth exceeding most long-term estimates -- the Federal Reserve expects to continue pursuing its course of gradual increases to the federal funds rate, Chairman Jerome Powell said in a speech today.