Fresh Today

Fresh Today

WASHINGTON—The Federal Reserve left interest rates unchanged Wednesday in the first Federal Open Market Committee meeting chaired by Kevin Warsh, maintaining the target range for the federal funds rate at 3.50% to 3.75% in a unanimous 12-0 vote.

 

WASHINGTON--The CFPB has rescinded a 2020 advisory opinion on Regulation B, which implements the Equal Credit Opportunity Act (ECOA). The rescission was published Wednesday in the Federal Register and covers certain facets of for-profit special purpose credit programs (SPCPs) designed and deployed to benefit historically underserved or economically disadvantaged groups, America's Credit Unions noted.

WASHINGTON—The U.S. Government Accountability Office is urging the Federal Deposit Insurance Corp. to address two longstanding supervisory concerns: requiring greater rotation of bank examiners and strengthening coordination with other regulators on blockchain and cryptocurrency risks.

WASHINGTON—Rep. Bill Foster (D-IL) is warning federal banking regulators that the rapid emergence of agentic artificial intelligence could dramatically accelerate future bank runs, turning crises that once unfolded over hours into events measured in seconds, according to comments reported by Banking Dive.