ABA: Interest Rate Caps Would Harm Consumers
The American Bankers Association today warned lawmakers of the potential consequences of imposing interest rate caps on consumer credit products.
Browsing: Interest rates
Fed Holds Interest Rates Steady
As expected by economists, the Federal Open Market Committee today voted unanimously to hold the target range for the federal funds rate steady at 1.5% to 1.75%.
ABA Welcomes OCC’s Proposal to Codify ‘Valid When Made’ Principle
ABA yesterday expressed support for the OCC’s long-awaited regulatory solution affirming that permissible interest on a loan made by a national bank or federal thrift remains valid when the loan is transferred or sold.
Bank Economists Anticipate Moderating Growth, Stable Interest Rates in 2020
The nation’s top bank economists forecast continued economic growth that would support job growth and wage gains in 2020 and beyond.
Strong Labor Market, Moderate Growth Cited in FOMC Rate Decision
A strong labor market, moderate GDP growth and inflation below 2% factored into the Federal Open Market Committee’s decision at its latest meeting to maintain the federal funds rate in a target range of 1.5-1.75%, according to minutes released today.
Slowing Global Growth, Trade Uncertainties Cited in FOMC Rate Cut Decision
Concerns about a slowdown in global growth and trade uncertainties remained prominent factors in the Federal Open Market Committee’s decision to cut interest rates by 25 basis points at the last FOMC meeting, according to minutes released yesterday.
FDIC Votes to Codify ‘Valid-When-Made’ Principle
Following action by the OCC yesterday, the FDIC proposed a rule stipulating that interest rates valid when the loan is made by a bank remain valid when the loan is transferred or sold.
ABA: FDIC National Rate Cap Proposal Is Insufficient
The FDIC’s recent proposal to make changes to the national rate cap does not go far enough to address the problems with the current calculation methodology, ABA said in a comment letter today.
FOMC Announces Second Rate Cut of 2019
The Federal Open Market Committee announced today that it would cut interest rates for the second time this year.
FDIC Proposes Changes to National Rate Cap Calculation
The FDIC today proposed a new methodology for calculating the national rate and the national rate cap for specific deposit products.