PYMNTS-MonitorEdge-May-2024

federal reserve

Federal Reserve System is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics led to the desire for central control of the monetary system in order to alleviate financial crises.

Source: federalreserve.gov

Report Finds That Faster Payments Boost Federal Reserve Banks’ Bottom Line
Report Finds That Faster Payments Boost Federal Reserve Banks’ Bottom Line
August 21, 2024  |  Faster Payments

The Federal Reserve’s latest report to Congress offered a snapshot of money spent — and returns on investment — on all manner of payment systems....

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Fed Sees Credit and Revolving Debt Inch Upward in July
Fed Sees Credit and Revolving Debt Inch Upward in July
August 12, 2024  |  Debt

Banks have reported earnings, and the Federal Reserve’s quarterly report on the status of banks’ assets, liabilities and other aspects of financial conditions are in....

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Recent Google Ruling May Open Door to More AI-Powered eCommerce
Recent Google Ruling May Open Door to More AI-Powered eCommerce
August 12, 2024  |  eCommerce

The recent federal court ruling against Google’s search monopoly could usher in a shift in online shopping, potentially reshaping how consumers discover products and businesses...

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Consumers See Inflation Moderating Longer Term, but Gird for Short-Term Price Pressures
Consumers See Inflation Moderating Longer Term, but Gird for Short-Term Price Pressures
August 12, 2024  |  Economy

The latest reading on consumers’ expectations about inflation — where it’s headed one year from now, three years from now, five years from now —...

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Fed Action Against Customers Bank Underscores Crypto’s Challenges
Fed Action Against Customers Bank Underscores Crypto’s Challenges
August 12, 2024  |  Cryptocurrency

Despite the decentralized nature of cryptocurrencies and other digital assets, Web3 businesses need banking partners. But on Thursday (Aug. 8), news broke that Pennsylvania-based Customers...

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FDIC Letter on ATMs Paves Way for More Branchless Banking
FDIC Letter on ATMs Paves Way for More Branchless Banking
August 12, 2024  |  Banking

New input from the Federal Deposit Insurance Corp. (FDIC) is poised to pave the way for more “branchless banking” — through interactive teller machines that...

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BofA CEO: Consumers Could Sour Without Interest Rate Cuts
BofA CEO: Consumers Could Sour Without Interest Rate Cuts
August 11, 2024  |  Consumer Finance

American consumers could become disheartened if the Federal Reserve doesn’t cut interest rates soon. That’s according to Bank of America CEO Brian Moynihan, who made...

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Fed Governor: Inflation Still at ‘Uncomfortable’ Level
Fed Governor: Inflation Still at ‘Uncomfortable’ Level
August 11, 2024  |  Economy

Despite some progress, Federal Reserve Governor Michelle Bowman says inflation remains “uncomfortably above” 2%. “Should the incoming data continue to show that inflation is moving...

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Fed Enforcements Now Focus on Instant Payments and Tokens
Fed Enforcements Now Focus on Instant Payments and Tokens
August 09, 2024  |  Bank Regulation

A recent enforcement action by the Federal Reserve taken against Customers Bancorp and its Customers Bank subsidiary has taken note of the risks and challenges...

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