ALEXANDRIA, Va. – NCUA reported it awarded three credit unions a total of $280,000 in low-interest (1%) loans through its community development loan fund. The three credit unions are: Island Tradition FCU, Honolulu ($130,000); Workers United FCU, New York ($100,000) and Choices FCU, St. Louis ($50,000). The agency has made a total of six loans for $725,000 so far this year.
The federal banking agency has conditionally approved Mission Lane's request for a limited-purpose credit card bank charter.
The Federal Reserve and Federal Deposit Insurance Corp. said they have doubts about the feasibility of American Express' resolution plan, yet issued no formal deficiencies with theirs or any of the other 14 other large banks' resolution plans reviewed.
Home value fell in real terms, as inflation ran 1.5 percentage points above price growth, down slightly from 3.5% in June, according to the Case-Shiller index.
The Federal Reserve voted 6-1 to finalize its proposed stress test reforms, including seeking input on stress test scenarios and models annually and averaging results over two years.
After Congress passed a bill speeding up its demise, the penny will be more curiosity than currency.
The Federal Reserve's preferred measure of inflation came in lower for August than it had in earlier months, but a recent methodology change raises questions about the strength of the signal.
