News stories tagged Federal Reserve
BRIEFLY: FedNow on track; Treasury scales back balance reporting proposal; Tech giants providing payment services ordered to give up info
(Oct. 22, 2021) “FedNow” – the Federal Reserve’s much-anticipated (and delayed) round the clock payment system – will be ready “sooner rather than later,” Federal Reserve Bank President Esther George...
‘Time to move’ from LIBOR, group recommends
(Oct. 15, 2021) It’s “time to move” from LIBOR now by slowing the use of the reference rate by year’s end to foster a smooth completion of the rate’s overall...
BRIEFLY: New laws in CA; Job openings in OR; Fed supervision vice chair loses a role
(Oct. 15, 2021) California legislation was signed into law this week, the California and Nevada Credit Union Leagues reported. The new law for state credit unions: allows expulsion of members...
BRIEFLY: LIBOR is over – so is ‘magical thinking,’ Fed supervisor tells group; Have a great holiday weekend!
(Oct. 8, 2021) LIBOR is coming to an end – for the most part, at the end of this year – and it’s time to stop “magical thinking” that it...
Bank agencies vow to work together on CRA rule
(July 23, 2021) New regulations on anti-redlining rules will be rescinded, and federal banking agencies vowed to work together to develop a new proposal, the agencies announced this week. On...
Fed announces tool for small banks grappling with CECL
(July 2, 2021) A new tool aimed at helping smaller banks calculate their allowances under the new current expected credit loss (CECL) accounting standard was announced by the Federal Reserve...
Proposals get the ball rolling on new FedNow service
(June 4, 2021) A “new and comprehensive” set of rules – but with concepts that are like existing regulations – to govern the Federal Reserve’s new round-the-clock instant payments service...
BRIEFLY: CFPB updates mortgage servicing FAQs; Written, specific direction needed on use of alternative data, GAO tells regulators
(June 4, 2021) Frequently asked questions (FAQs) about mortgage servicing were updated this week by the CFPB, concerning escrow account compliance under Regulations X and Z (RESPA and TILA, respectively)....
Like cicadas, buzz about U.S. digital currency grows
(May 28, 2021) Discussion of digital currency and if (or when) the Federal Reserve will begin issuing its own version of the new money was ramped up over the last...
BRIEFLY: First new FCU of year chartered; will serve local Islamic community …
(May 7, 2021) A new federal credit union chartered late last month in Kendall Park, N.J., to serve a local Islamic community will offer its members non-interest-bearing consumer loans, among...
BRIEFLY: Fact sheet on LIBOR demise published; Powell inflation indicators only ‘transitory’
(April 30, 2021) A two-page fact sheet that lays out what’s behind the demise of the London Interbank Offer Rate (LIBOR), a widely used rate used for such lending products...
Fed sets up committees to address climate change
(March 26, 2021) Two new Federal Reserve committees will focus on the impact of climate change on financial stability, Fed Board Gov. Lael Brainard said this week, as the agency...