News Topic: Federal Reserve

Federal Reserve Chairman Jerome Powell said a messy breakup between the United Kingdom and European Union could pose risks to the economy and financial system. ... Read full article

Banks use anti-money-laundering and fraud systems to try to catch scams that prey on senior citizens. A few, including Wells Fargo, are working on artificial intelligence that could spot them even earlier. ... Read full article

Banks say regulatory relief efforts should go even further, while public interest groups — and even one of the Fed’s regional offices — say the proposals to roll back supervisory standards go too far. ... Read full article

The lawmakers want U.S. banking agencies to join their international peers in ensuring the financial system is resilient to climate-related risks. ... Read full article

As suspense builds over which firm will be the first to seek the special-purpose charter, a side discussion has emerged over which financial services sector has the most to gain — or lose — from the new option. ... Read full article

Despite a generally positive picture in the Shared National Credit report, regulators warned that underperforming loans in the the portfolio remain elevated. ... Read full article

Leaders of the biggest U.S. banks don’t see 2018’s wild ending as reason enough for the Federal Reserve to reverse course. ... Read full article

There’s no reason for the central bank to prohibit nonbank financial firms from entering the payments system as long as appropriate rules are put in place to protect against risk. ... Read full article

The Federal Reserve is examining how Deutsche Bank handled billions of dollars in suspicious transactions from Denmark's leading lender, according to people familiar with the matter, further intensifying what could be one of the biggest ... Read full article

The industrial loan company charter is getting more attention as doubts grow about a new federal license for fintechs. ... Read full article

The Trump administration is considering whether to renominate Marvin Goodfriend to join the Federal Reserve Board, a person familiar with the matter said. ... Read full article

Some in the industry worry the Fed may balk at allowing OCC charter recipients into the payments system, but Otting downplayed those concerns. ... Read full article

Sen. Elizabeth Warren questioned the five largest U.S. retail banks in a letter on what they are doing to reduce the impact of the government shutdown on customers. ... Read full article

American homeownership has been on the decline, and Federal Reserve researchers point to the high cost of college as one culprit. ... Read full article

The Federal Reserve has suggested it could join the market for instant interbank payments, but private sector entrants would be better. ... Read full article

Now that Wells must abide by the central bank's asset cap through year-end, it may have to divest more nonessential assets and take other steps to open up room for core loan growth. ... Read full article

Wells Fargo & Co. is planning to operate under a Federal Reserve asset cap through the end of 2019, rather than just the first half of the year, as it takes longer than anticipated to correct issues in its consumer business. ... Read full article

The post-Dodd-Frank era is one of rightsizing and tailoring rules, but a key bloc of the regulatory brain trust believes the U.S. still lacks mechanisms that could prove helpful in a crisis. ... Read full article