Federal Reserve

Federal Reserve Chair Jerome Powell largely hewed close to his predecessor's positions in his first congressional testimony as the top central banker, but also signaled important changes when it came to paying banks interest on reserves and other topics.

Jerome Powell is the first Federal Reserve chairman in more than a decade to have any background in the private sector. That could explain changes he's implemented in his first weeks on the job.

U.S. Bancorp. has agreed to pay $613 million in penalties to state and federal authorities for violations of the Bank Secrecy Act and a faulty anti-money-laundering program.

A provision in the Senate’s two-year budget deal would cut the Federal Reserve's operating surplus by $2.5 billion, the second time in recent years that Congress has diverted Fed funds.

The Federal Reserve’s order restricting Wells Fargo puts other bank boards on notice that they could be singled out for failure to perform, but also makes it easier for them to avoid that fate.