Page 5 - Monetary Control Act News Today

Legislation to opt out of a 43-year-old federal law allowing FDIC-insured state banks to “export” interest on interstate loans to the same extent as their national bank counterparts is...

In July, the U.S. Senate introduced a plan to offset new highway spending by reducing the dividend that the Federal Reserve pays to member banks. While it is still unclear exactly where this idea originated, an anonymous Democratic staffer recently referred to the dividend as “an unnecessary and wasteful subsidy.”[1] It now appears that the dividend reduction will go forward even if it offsets outlays other than highway spending.

The former senator inserted a provision into last year's defense spending bill requiring the Fed to disclose master account applications and outcomes. In a recent lawsuit filing, the central bank said the addendum bolstered its powers.

Bank fundamentals do not look likely to get better any time soon, yet the Fed seems determined to make matters worse.

Subprime lending, the practice of extending credit to borrowers with low incomes or poor, incomplete, or nonexistent credit histories. Subprime mortgage loans, the most common form of subprime lending, are characterized by higher interest rates and more-stringent requirements to compensate lenders for the higher credit risk involved. By providing credit to individuals who would normally be denied it in the standard (prime) mortgage market, subprime lending allows a larger number of households t...

Regulatory Developments - Agencies Issue Joint Statement on Liquidity Risks Resulting from Crypto-Asset Market Vulnerabilities - On February 23, the...

Famous for his hand-typed "Guenther-gram" messages, the longtime Independent Community Bankers of America CEO played a critical role in boosting the trade group's political clout after it moved to Washington from Sauk Centre, Minnesota, in 1982.

In December, the State of Iowa and the Iowa Division of Banking entered into an Assurance of Discontinuance ("AOD") with Transportation Alliance Bank, Inc. (the "Bank") settling claims...

In December, the State of Iowa and the Iowa Division of Banking entered into an Assurance of Discontinuance (“AOD”) with Transportation Alliance Bank, Inc. (the “Bank”) settling claims...

The Federal Reserve governor urged regulators not to squeeze crypto activities into non-regulated spaces. She also discussed policies for payments and Community Reinvestment Act reform.