The federal bank regulatory agencies today announced temporary changes to their supplementary leverage ratio rule. The temporary modifications will provide flexibility to certain depository institutions to expand their balance sheets in order to provide credit to households and businesses in light of the challenges arising from the coronavirus response. Issued by the Federal Reserve Board, […]
The 2019 Small Business Credit Survey (SBCS) is open! If you are a small business owner or are self-employed, the Federal Reserve Banks invite you to participate. Your confidential answers will provide critical information that service providers, policymakers, and lenders use to improve programs for small businesses. Click here to take the survey. Are you […]
More banks and credit unions are providing banking services to marijuana-related businesses, according to the Financial Crimes Enforcement Network. The agency’s quarterly Marijuana Banking Update shows 553 banks and 162 credit unions were servicing the industry as of June 30, a total of 715 financial institutions. It said it received a total of 87,249 suspicious […]
The Federal Reserve is investing in a new service called FedNow that will allow banks to process and settle individual payments within seconds, instead of requiring customers to wait days for funds to clear. Round-the-clock, instantaneous transactions would help Americans avoid overdraft and late fees that mount as they wait for transactions to clear, according […]
What’s the earliest in the morning one of your friends could call just to say hi? Pete Dontas of Wells Fargo joins us to talk about that, the future of banking and the increasing tolerability of the Spice Girls on our latest episode of Other People’s Business.