Sluggish economic growth cited in decision to leave overnight rates near zero.
Idaha banker, credit union CEOs disagree on business lending, tax exemption.
Ohio CEO to appear at Senate Banking Committee subcommitte hearing on Tuesday.
The U.S. interchange battle between merchants and issuers is coming to a close now that the Durbin Amendment has been interpreted by the Federal Reserve Bank.
Fed vote on interchange today kicks wait-and-see into high gear for credit unions.
CUNA’s Cheney reaches out to members of bank/CU panels set up by Fed last year, asking them to reach out to Fed Board.
With the exception of an impromptu clash over the credit union tax exemption, the Federal Reserve Bank information seminars that joined credit union and community bank CEOs finished the month with a wary but shared camaraderie.
In yesterday’s release of lending data by the Federal Reserve Bank covering 2008 to early 2010, one item that caught the eye of many observers was the amount of overnight borrowings by some corporate credit unions, notably U.S. Central and WesCorp.
The initial reviews are in from the meeting this week between credit union CEOs, community bank CEOs and top brass of Federal Reserve banks, and so far the assessment of what was discussed on everything from interchange to Fannie/Freddie status was favorable.
Underscoring a policy aimed at reaching out to small community banks and credit unions, the Federal Reserve Board and its district banks last week began completing a series of high-level CEO appointments to its new advisory panels.