The Federal Open Market Committee raised the federal funds rate target by another 75 basis points and released updated projections reflecting the impact of its campaign against inflation.
The Treasury Department announced that it has made over $8.28 billion of investments in 162 community financial institutions across the country through the Emergency Capital Investment Program.
The Treasury Department is still working out the details of a Treasury-led interagency work group on considering the adoption of a U.S. central bank digital currency, Treasury Undersecretary Nellie Liang said.
Following the Biden administration’s release of reports on digital assets policy, ICBA released new polling conducted by Morning Consult indicating consumers support a regulatory framework for digital assets and are skeptical of the creation of a U.S. central bank digital currency.
ICBA-opposed legislation to create new credit card routing mandates that expand on Durbin Amendment payments interventions would dramatically affect credit card rewards programs, according to a new report from The Points Guy.
ICBA and The Venture Center recognized this year’s Finovate Fall 2022 Best of Show winners, LemonadeLXP and Quilo, both of which were 2022 ICBA ThinkTECH Accelerator participants.
The Consumer Financial Protection Bureau said it is developing consumer protections for “buy now, pay later” products similar to those that apply to credit cards.
ICBA called on Congress to extend the National Flood Insurance Program authorization before it expires Sept. 30 to avoid further disruptions to the housing market.
A group of House members led by Rep. Chrissy Houlahan (D-Pa.) sent an ICBA-supported letter to the Small Business Administration calling for common-sense reform to Paycheck Protection Program loan forgiveness.
Lead co-sponsors of ICBA-advocated legislation to allow legal cannabis-related businesses to access banking services said they are working with key senators to advance the House-passed bill in the Senate.
The Consumer Financial Protection Bureau said the Fair Credit Reporting Act requires credit report furnishers to investigate potential inaccuracies in consumer credit reports.
