Average values of consumers’ and businesses’ ACH, check, and card payments increased substantially from 2018 to 2021, according to initial findings of the Federal Reserve’s 2022 triennial payments study, with ACH credited as the single-greatest […]
The elimination under revised accounting rules of recognition and measurement of troubled debt restructurings (TDRs) by creditors, and removal of references to TDRs, led to issuance Friday of an interagency policy statement by the three […]
A request for information (RFI) on climate-related financial risk to insured credit unions, related entities, their members, and the National Credit Union Share Insurance Fund (NCUSIF) was released by the federal credit union regulator’s board […]
A Federal Reserve-developed alternative to a now-defunct (and soon to be eliminated) interest rate standard has become the dominant benchmark in the market, according to the group that developed the alternative. The Alternative Reference Rates […]
The Comptroller of the Currency (OCC) on Thursday announced two enforcement actions from March: one removal and prohibition order, and one termination of a previous enforcement order. The prohibition was against Meg James, a former […]
Tokenization and artificial intelligence (AI) are two areas of financial innovation that may have the potential to deliver substantial benefits, a member of the Federal Reserve Board said Thursday. Speaking to a conference focusing on […]
Protecting the U.S. financial system from cyber attacks, especially in the face of war in Ukraine, was the subject of a meeting Thursday of federal financial institution regulators and organizations representing state regulators, the Treasury […]
A “research note” that illustrates credit unions’ exposure to climate-related physical risks – with about one-fourth of insured credit unions reportedly found to be in areas with high or very high risk of negative impacts […]
“Open banking” – the practice of enabling consumer-permissioned sharing of financial data with third parties to empower consumers – is supported by the regulator of national banks, but not at the expense of dissolving banking’s […]
Tighter lending standards amid increased uncertainty and concerns about liquidity were reported by business contacts in several areas around the country, according to the results of the latest survey of business conditions by the Federal […]
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