Policymaking

Why the Fed is taking an incremental approach to faster payments

02/12/20

To address immediate market demand but allow time for the project to be done right, the official leading implementation of FedNow says the central bank envisions an initial release in 2023 or 2024 followed by subsequent updates.

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House lawmakers at odds over requiring banks to report diversity data

02/12/20

A study by the House Financial Services Committee on the industry’s efforts to hire and promote more women and minorities has sparked a dispute over whether banks should have to be more transparent about those efforts.

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6 statehouse issues on bankers’ radar

02/11/20

Bankers groups are keeping close tabs on a host of legislative and gubernatorial proposals, from prize-linked savings accounts in Iowa to rent control in Massachusetts to a slew of bills modeled after California's recently passed data privacy law.

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Warren asks Fed nominee to clarify policy stances

01/31/20

The Massachusetts senator took aim at certain views expressed by Judy Shelton, a Trump administration pick to sit on the Federal Reserve Board, that have sparked controversy.

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Banks hope Ex-Im revival is shot in the arm commercial lending needs

01/30/20

Lenders that depend on the Export-Import Bank to back loans to exporters are already seeing business borrowing pick up after Congress reauthorized the agency in December.

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ICBA urges Congress to crack down on CU-bank deals

01/30/20

The head of the small-bank trade group called for hearings to discuss tougher limits on credit union acquisitions of banks.

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FDIC advises banks to exercise caution with agricultural loans

01/28/20

To guard against headwinds in the agricultural sector, the Federal Deposit Insurance Corp. recommended that institutions consider the “overall financial status” of farm loan borrowers.

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Central banks team up to study case for digital currencies

01/21/20

The body will include the Bank of England, Bank of Canada, the Bank of Japan and the European Central Bank, but not the Federal Reserve or the People's Bank of China.

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Bill would aid New York cabbies who can't make loan payments

01/17/20

Federal legislation introduced this week by Rep. Gregory Meeks, D-N.Y., would ensure that taxi drivers don't get taxed on medallion debt that gets forgiven. The bill dovetails with a debt forgiveness plan under development in New York, where hundreds of drivers have filed for bankruptcy.

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Trump plans to nominate Shelton, Waller to Fed board

01/17/20

The president tapped the pair in July for the two remaining vacancies, but the formal announcement of his intention to nominate them didn’t come until this week.

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