Politics

The bank's announcement comes a week before CEO Charlie Scharf and two board members will testify on Capitol Hill.

The Vermont senator’s rise to front-runner status for the Democratic nomination worries many industry watchers, but their opinions diverge on his electoral chances and whether a Sanders presidency would pose a direct threat.

ICBA outlined a series of questions for lawmakers that would force credit unions to defend the industry's practices during meetings with local representatives.

Recent political controversies are forcing credit unions and industry groups to reconsider their support for lawmakers they previously endorsed.

The FDIC’s Quarterly Banking Profile said lackluster net interest income, likely resulting from lower short-term interest rates, drove a decline in fourth-quarter and full-year earnings.

Bernie Sanders’ rise to front-runner status for the Democratic nomination worries many bankers, but their opinions diverge on his electoral chances and whether a Sanders presidency would pose a direct threat.

The hearing will be one of three held by the House Financial Services Committee to scrutinize the bank next month.

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The agency said it wants feedback on changing its ubiquitous logo greeting customers at branches and ATMs to address technological changes, shifting consumer behaviors and bank-nonbank partnerships.

Both Democrats and Republicans aired concerns about controversial statements made by Judy Shelton on monetary policy, deposit insurance and other issues, raising doubts about her confirmation.

Ken Montgomery, who is heading up the Federal Reserve's faster payments network, says the agency is taking an incremental approach to launching the service.

To address immediate market demand but allow time for the project to be done right, the official leading implementation of FedNow says the central bank envisions an initial release in 2023 or 2024 followed by subsequent updates.

A study by the House Financial Services Committee on the industry’s efforts to hire and promote more women and minorities has sparked a dispute over whether banks should have to be more transparent about those efforts.

Bankers groups are keeping close tabs on a host of legislative and gubernatorial proposals, from prize-linked savings accounts in Iowa to rent control in Massachusetts to a slew of bills modeled after California's recently passed data privacy law.

The Federal Reserve on Thursday released the 2020 stress testing scenarios that it will use to evaluate the safety and soundness of 34 banks with more than $100 billion of total assets.

The Massachusetts senator took aim at certain views expressed by Judy Shelton, a Trump administration pick to sit on the Federal Reserve Board, that have sparked controversy.

Lenders that depend on the Export-Import Bank to back loans to exporters are already seeing business borrowing pick up after Congress reauthorized the agency in December.

The head of the small-bank trade group called for hearings to discuss tougher limits on credit union acquisitions of banks.

To guard against headwinds in the agricultural sector, the Federal Deposit Insurance Corp. recommended that institutions consider the “overall financial status” of farm loan borrowers.

The body will include the Bank of England, Bank of Canada, the Bank of Japan and the European Central Bank, but not the Federal Reserve or the People's Bank of China.