With only a fraction of the funds allocated being used, Federal Reserve Chair Jerome Powell said the central bank is considering tweaks to the middle-market rescue program in an appeal to lenders wary of taking on added risk.
The new unit plans to connect the startups it backs, such as the global payments network Veem, with experts at the company who can provide business advice.
Fannie Mae and Freddie Mac have been slammed for planning an additional refinancing charge to cover COVID-related losses, but the head of the Federal Housing Finance Agency defended the policy in House testimony.
New analysis from CO-OP Financial Services showed credit union members veering closer to traditional card usage, but the lack of additional pandemic relief could hamper interchange growth this fall.
Congress should pass legislation that would allow Home Loan banks to backstop deposits by local governments at commercial banks and lower the cost of bond financing, two mayors argue.
Top Senate Republican says the Fed nominee doesn’t have the votes but aren’t throwing in the towel yet; the bank’s stock is down 12% this week amid news of a large risk systems upgrade.
