House Republicans are ramping up their criticism of the Fed for making interest payments to member banks on excess reserves, and may have identified a way to counter claims that the payments are critical to monetary policy.
Though they face an array of competitive threats — from digital currencies to peer-to-peer payment apps — the vast majority of community banks do not have a payments strategy, according to a recent survey.
Former Inter-State Federal account holders believe they were shortchanged by the Missouri mutual's merger. A ruling in their favor could give depositors more power and could undermine what it means to be a mutual.
Federal regulators are early in the process of deciding whether to broaden credit unions' access to capital markets, but banking lobbyists have seen enough to argue that it would let credit unions skirt business-lending limits.