GOLDEN VALLEY, Minn.—Federal Reserve Vice Chair for Supervision Michael Barr said Thursday the central bank faces a difficult balancing act as both inflation and employment risks remain elevated, signaling a cautious approach to future policy moves.
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WASHINGTON--The Defense Credit Union Council Thursday wrote to House Financial Services Committee Ranking Member Maxine Waters, expressing appreciation for her Oct. 8 letter urging the financial industry to support federal employees, servicemembers, and their families during the ongoing government shutdown.
RICHMOND, Va.— A federal grand jury in Virginia on Thursday indicted New York Attorney General Letitia James on one count of bank fraud, according to a person familiar with the matter, following weeks of public pressure from President Donald Trump for prosecutions of his political adversaries, POLITICO reported.
WASHINGTON--The Federal Reserve Board on Thursday announced expanded operating days of two large-value payments services, Fedwire Funds Service and the National Settlement Service (NSS), to include Sundays and weekday holidays. '
ONTARIO, Calif./LAS VEGAS--California’s Credit Unions and Nevada’s Credit Unions today announced a broad package of financial relief options for employees of the federal government impacted by the government shutdown.
ALEXANDRIA, Va.– NCUA, the FDIC, the Board of Governors of the Federal Reserve System, and the Office of the Comptroller of the Currency, joined the Financial Crimes Enforcement Network Thursday in issuing answers to frequently asked questions about Suspicious Activity Reports (SARs) and other anti-money laundering/countering the financing of terrorism (AML/CFT) considerations, the agencies announced in a joint release.
MCLEAN, Va.-- The 30-year fixed-rate mortgage moved down this week, averaging 6.30%, Freddie Mac reported.
WEST SALEM, Wis.—Another car has crashed into a credit union.
WASHINGTON—The Trump Administration on Friday began carrying out large-scale federal layoffs—formally known as reductions in force (RIFs)—marking the first mass terminations of federal employees during a government shutdown in modern U.S. history. The move, which multiple reports describe as “substantial,” has set off alarm bells among credit unions, financial regulators, and member advocates who warn that the economic fallout could be far-reaching.`
NASHVILLE—Mortgage software provider Optimal Blue and nearly 30 major lenders—including Rocket Mortgage, CrossCountry Mortgage, and United Wholesale Mortgage—are facing a federal lawsuit accusing them of conspiring to inflate mortgage fees for millions of U.S. homebuyers, Reuters reported.