Fedwire has migrated to ISO 20022, a messaging standard designed to make it easier for digital real-time processing rails to work together. It's a difficult lift for banks, but the agency promises it will be worth it.

Sam Altman, the founder and CEO of OpenAI, said the rapidly growing capabilities of AI are rendering many of banks' fraud prevention measures useless and warned of an "impending fraud crisis" if banks don't update their processes.

The Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency proposed a rule that would revert the anti-discrimination framework to its 1995 standards.

The Federal Reserve governor said the uptick in buy now pay later repayment issues is likely a sign that consumers don't understand the terms of the emerging credit offering.

The Federal Reserve and Office of the Comptroller of the Currency terminated enforcement orders against Industry Bancshares and its subsidiaries. The banks were considered prime examples of interest rate risk management gone awry.

The president's ongoing effort to push Fed Chairman Jerome Powell out of his job are part of a dangerous effort to undermine the central bank's nonpartisan monetary policy processes.

The labor market was a bigger point of discussion in the Federal Reserve's most recent monetary policy-setting meeting, but officials were divided about the path of future actions.

The markets are waiting for the Federal Open Market Committee to make its next move.

The Federal Reserve has banned a Wyoming bank employee from the banking industry for embezzling more than $30,000 from a charity.

The Bureau of Labor Statistics issued its unemployment report for June, showing that the economy added 147,000 jobs. The report supports the Federal Reserve's patience to cut interest rates.