The tougher capital requirements the government had planned for banks may not be as tough. That’s according to a Sunday (May 19) report by The Wall Street Journal (WSJ), which argues that efforts by banking CEOs like JPMorgan Chase’s Jamie Dimon to push back against the Federal Reserve’s proposal that banks hold more...
The year-end-splurge online may come as no surprise. The pullback in the first quarter may come as no surprise, either. The overall movement is upward — where eCommerce is following a long-term trend, moving beyond pre-pandemic levels and showing staying power. But the volatility is...
Reading the Thursday (May 16) Supreme Court ruling upholding the constitutionality of the Consumer Financial Protection Bureau’s funding mechanisms — and ensuring the agency’s survival — takes one through centuries of history. All the way back to England, Parliament and the Crown. All the way back to the inner workings of...
Consumers and businesses — running the gamut of transaction types and across demographics — are pivoting toward faster and digital payment options. Overall, as detailed in two reports by Federal Reserve Financial Services, last year saw a 31% increase in digital wallet use by businesses, and a...
May 13, 2024
Consumers are girding for inflation to settle in over the long haul. But they intend to keep spending. As reported on Monday (May 13), the Federal Reserve Bank of New York’s Center for Microeconomic Data detailed that, per the April Survey of Consumer Expectations, inflation’s expected to be higher one year from now, slightly lower at the three year mark, […]
April 17, 2024
Eight times each year the Fed publishes what’s known as the Beige Book — a qualitative take from each of the 12 federal bank districts. The assessments cover everything from...
April 11, 2024
In signs of continued pressure in the paycheck-to-paycheck economy, more consumers are making only the minimum payments on their credit cards. And the debt on those cards is rising. The...
April 08, 2024
Debt continues to mount — and at an accelerated pace, per the Federal Reserve’s latest tally on consumer credit. Within that growth likely lies a continued use of card installment plans....
May 19, 2024
The tougher capital requirements the government had planned for banks may not be as tough. That’s according to a Sunday (May 19) report by The Wall Street Journal (WSJ), which argues that efforts by banking CEOs like JPMorgan Chase’s Jamie Dimon to push back against the Federal Reserve’s proposal that banks hold more capital appear to have paid off. Sources tell WSJ that […]
May 14, 2024
Bank of America’s CEO says consumer spending is still healthy despite steep interest rates. Spending has risen between 3% and 4% this month compared to a year ago, Brian Moynihan said in an interview with...
May 08, 2024
Federal Reserve Governor Lisa Cook highlighted commercial real estate, private credit and cyber risks as potential issues. Speaking Wednesday (May 8) at the Brookings Institution in Washington, D.C., Cook provided a current assessment of financial...
April 11, 2024
Morgan Stanley is reportedly facing investigations by several agencies into how its wealth management division vets and monitors clients who may pose money-laundering risks. The Securities and Exchange Commission (SEC), the Office of the...
