The central bank also noted that the banking system is sound but faces several challenges. The report precedes Federal Reserve Chair Jerome Powell's upcoming appearances on Capitol Hill.

Warren chided the Federal Reserve chairman for having multiple private meetings and talks with top executives — including 19 with JPMorgan Chase CEO Jamie Dimon.

Federal Reserve Chair Jerome Powell brushed away concerns that a second Trump presidency could imperil the central bank's independence.

Eugene Scalia, former Secretary of Labor and the banking lobby's lawyer on retainer for a potential challenge to Washington's capital reform effort, discusses the state of administrative law after the overturning of a key legal precedent.

Four large banks were dinged in their resolution plan reviews for shortcomings in their plans to unwind their derivatives positions in times of stress. But whether the problem is with the banks' plans or the regulators' expectations for a legally ambiguous product is a matter of debate.

Ransomware group LockBit threatened on Sunday to publish the stolen data Tuesday evening. Ransomware experts said it was likely that the group was bluffing.

The Federal Reserve Board of Governors issued a cease and desist order against Indiana-based United Fidelity Bank over concerns that the bank was deficient in its board oversight policies.

By adopting more inclusive lending practices and actively seeking to support minority-owned businesses, banks can help bridge the financing gap that often stifles the growth of these businesses.

The public will now have an additional two months to weigh in on expanded operating hours for its Fedwire Funds and the National Settlement services.

U.S. regulators need to do more to require banks to recognize the risks posed by climate change, and the damage that continuing to support fossil fuel extraction projects does to the environment.

In this edition of the American Banker news quiz, test yourself on topics such as Visa and Mastercard's shift away from relying on interchange, the Federal Reserve's efforts for balance sheet reduction, which financial services sector consumers trust the most and more.

Numisma, a Connecticut-chartered uninsured bank, was granted a Federal Reserve master account last week — the first bank with a novel charter to do so since the Fed issued its master account guidelines in 2022. Whether others can do the same is an open question.

Beth Hammack, who stepped down as the bank's co-head of global finance earlier this year, will take the helm as President of the Federal Reserve Bank of Cleveland later this summer following the retirement of longtime President Loretta Mester.

Numisma Bank, a de novo bank backed by former Federal Reserve Vice Chair Randal Quarles, is the first bank without deposit insurance to be granted conditional approval under the Fed's new master account application framework.

Federal Reserve Vice Chair Michael Barr Monday spoke at length about efforts to enhance banks' liquidity and long-term debt positions after last year's bank failures while saying little about the capital hikes in the embattled interagency Basel III endgame proposal.

The central bank is merely an instrument of Congress when it comes to setting card interchange fees. Only by making lawmakers feel the heat will the industry see meaningful change.

Federal Reserve Chair Jerome Powell said there have been "no decisions" on the controversial capital reform plan, but banks and others who have criticized the proposal are eager for an indication about what's next.

What's the point of regulatory capital rules that ignore demonstrated problems, like unrealized losses? We need to rethink what banks' disclose to investors and regulators.

The Wyoming-based digital asset bank filed paperwork to challenge last month's district court ruling, which affirmed the Federal Reserve's view about its discretion over master account applications.