The American Bankers Association today responded to a proposal from the Federal Reserve that would amend the regulatory framework for determining whether a bank or company exercises a “controlling influence” over another bank or company under the Bank Holding Company Act and the Home Owners’ Loan Act.
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ABA last week submitted comments in support of the Federal Reserve’s recent proposal to modify the Federal Reserve Banks’ National Settlement Service and Fedwire Funds Service to accommodate a third same-day ACH processing and settlement window.
Testifying before the House Financial Services Committee today, Federal Reserve Chairman Jerome Powell said he and his colleagues “don’t expect a severe downturn” in the near future, but warned that a “cross-current” of trade uncertainties and slowing global growth could require a more accommodative monetary policy stance.
In a white paper released yesterday, the Federal Reserve System documented the current state of synthetic identity fraud and its effects on the payments industry.
In remarks at a conference at the Federal Reserve Bank of Boston today, Fed Vice Chairman for Supervision Randal Quarles highlighted ways his agency is working to make stress tests more transparent, simple and less volatile.
The Federal Reserve and the Consumer Financial Protection Bureau today finalized changes to Regulation CC (the Expedited Funds Availability Act) to adopt a method for making inflationary adjustments to the dollar amounts in Regulation CC every five years pursuant to the Dodd-Frank Act.
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 today.
The heads of the banking agencies told lawmakers that they expect to have regulatory changes from the S. 2155 regulatory reform law implemented by year-end.
A recent review by the Government Accountability Office found notable variations in how federal banking regulators communicate their supervisory concerns to the institutions they oversee.
The benefits that TNB offers its institutional investor client base would be more than offset by the harm it does to the banking system and the Fed’s use of IOER.