News Topic: Federal Reserve

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. ... Read full article

The bank’s unsullied image took a hit when it admitted to misleading regulators regarding its efforts to combat money laundering. ... Read full article

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. ... Read full article

The full Senate will now consider the nomination of Jelena McWilliams to lead the FDIC, as well as nominees to sit on the Federal Reserve Board and the Financial Stability Oversight Council. ... Read full article

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. ... Read full article

The continuing cycle of scandal has forced big banks to get crafty in how they influence debate in Washington. The latest action against Wells ensures more backroom dealing. ... Read full article

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. ... Read full article

Credit standards for commercial loans to medium and large firms showed some signs of easing over the last three months of 2017, even though demand stayed relatively unchanged. ... Read full article

The plan would harmonize a 2015 rule establishing swap margin requirements with a later policy that imposes restrictions on certain qualified financial contracts. ... Read full article

Powell, a former investment banker who has served as a Fed governor, was confirmed by the Senate last month to a four-year term as chair of the central bank. ... Read full article

The bank’s assets are capped at their current level of $1.95 trillion; Citi, JPM and B of A will no longer allow bitcoin purchases on their credit cards. ... Read full article

The Federal Reserve voted unanimously Friday to impose an unprecedented enforcement action against Wells Fargo in response to its cross-selling scandal, restricting the bank’s future growth and removing four members of its board of directors. ... Read full article

Federal Reserve Chair Janet Yellen, whose term expires Saturday, will join the Brookings Institution on Monday, the Washington-based think tank said. ... Read full article

Her career at the Federal Reserve is one of stunning accomplishments, but time will tell how her tenure ultimately is remembered on bank regulation and stewardship of the economy. ... Read full article

The Fed released its stress testing scenarios for banks this year, raising the bar on what constitutes severely adverse hypothetical market conditions. ... Read full article

Swelling capital levels, tax cuts and changing attitudes about post-crisis regulation could encourage bigger banks to issue the one-time payouts to reward shareholders and better manage their returns. ... Read full article

Regulators said they were taking steps to recognize contributions to the recovery made by banks anywhere in the nation. ... Read full article

Upper chamber approves nomination to succeed Janet Yellen; Twitter’s operations chief to take over online lender in March. ... Read full article