U.S. consumer borrowing unexpectedly fell in August as credit card balances declined for a sixth consecutive month with the coronavirus pandemic continuing to limit some purchases amid elevated unemployment.

Federal Reserve Chair Jerome Powell said the lack of additional stimulus is creating "unnecessary hardship for households and businesses."

The industry is warning regulators putting the finishing touches on the Net Stable Funding Ratio that the measure could exacerbate volatile market events like the spring selloff of Treasury securities.

Control of the U.S. Senate hangs in the balance in the upcoming election, with the outcome determining the direction of laws and regulations that can have a profound impact on financial services, technology, fintech and payments innovation.

While the two agencies have disagreed on key areas of reforming the Community Reinvestment Act, the acting comptroller of the currency said there is commonality between their two approaches and he has not given up on developing a joint plan.

Customers suffered when they were placed in mortgage relief plans without their consent, the Massachusetts senator says. She urged the Federal Reserve to take the blunder into account as it weighs when to lift other sanctions against the bank.

The agencies are still at odds over how to reform the scoring system in Community Reinvestment Act exams, but experts say the central bank’s recent draft proposal suggests a deal could be struck.

The central bank issued a proposal aligning recent stress testing changes with supervisory standards that are tailored to an institution's size and complexity.

The Federal Reserve will continue its ban on share repurchases for banks with more than $100 billion of assets into the fourth quarter and will cap dividend payments using a formula based on recent income.

Processing transactions quickly enough to serve digital commerce comes with arduous upgrades and complicated choices, but that's only the stick. The carrot is people like faster payments, so there's plenty of opportunities to boost payment revenue.

Loan officers surveyed by the central bank said the subpar creditworthiness of some applicants and the ability of others to find credit elsewhere are among reasons the middle-market rescue facility has fizzled.

The economist Marc Sumerlin was invited one June morning in 2019 to meet with President Trump, but with a condition: he had to be prepared to accept Trump's nomination to the Federal Reserve's Board of Governors. He declined.

The central bank must engage core processors, community banks and The Clearing House if it wants to move quickly on building out its FedNow system.

During a Senate Banking Committee hearing, the Massachusetts Democrat asked Powell what the Fed is doing to reduce inequality along economic lines in the U.S.

Bostic, the first Black Fed president in the central bank’s 106-year history, said systemic racism is an economic as well as a moral issue.

Democratic presidential nominee Joe Biden’s search for a Treasury secretary is widely seen as focusing on Brainard, a choice that would keep both Wall Street and progressives in line.

Capping a series of appearances on Capitol Hill this week, the Federal Reserve chair and Treasury secretary emphasized that they don’t have the authority to reallocate CARES Act funds to assist small businesses on their own.

Brink's has seen a 20% increase since January in the amount of cash processed in its own systems, signaling that as users return to stores they’re choosing to pay with cash.

The Fed chief said that with its Main Street Lending Program, the central bank has “done basically all of the things that we can think of.”

The central bank must engage core processors, community banks and The Clearing House if it wants to move quickly on building out its FedNow system.