Links in “Federal Reserve”

The Supreme Court has declined to hear an appeal filed by retailers to overturn a lower court opinion that held that the Federal Reserve Board acted within its authority in setting the current cap on debit card interchange fees. NAFCU and CUNA both commended the court for its action, but continue to argue that the current caps are too low. [1/21/15]

The Fed, which dissolved its consumer advisory council in 2011 when Dodd-Frank shifted consumer protection to the CFPB, has announced that it is forming a new 15-member council to advise it on economic and policy issues, particularly those related to low- and moderate-income areas. [1/19/15]

OCC, the Fed, and the FDIC are hosting their next outreach session on their efforts to reduce the regulatory burden on Feb. 4 in Dallas. Got anything you want to share with them? [1/16/15]

The FRB, FDIC, and OCC announced additional outreach meetings as part of the EGRPRA. The meetings will provide an opportunity for people to present their views on the 12 categories that started the EGRPRA public comment process. [1/15/15]

What's in your wallet? New study by the Fed Reserve of Boston finds that the amount of cash in circulation keeps rising. And while the median amount of cash carried by consumers is $22, there are many who routinely carry around more than $100. Typically these high rollers are consumers with higher incomes, which undercuts the idea that cash is mainly for the poor who are unbanked. [1/13/15]

After a long campaign by community banks for a seat on the Fed board, the White House announced it would nominate Allan Landon, former chairman and CEO of the Bank of Hawaii, to one of two vacancies on the seven-member board. [1/7/15]

The Federal Reserve Board announced that the threshold for the small loan exemption to the definition of a higher priced mortgage is increasing from $25,000 to $25,500 effective January 1, 2015. [12/30/14]

The FRB announced the annual adjustment of the dollar amount used to determine whether a small loan is exempt from the special appraisal requirements that apply to higher-priced mortgage loans. The exemption threshold is being adjusted from $25,000 to $25,500 and will, for covered loans, require creditors to obtain a written appraisal based on a physical visit to the home's interior. [12/24/14]

The race is on between NACHA's same-day plan, The Clearing House's real-time plan, and the Fed Reserve's plan. [12/22/14]

The Federal Reserve Board has terminated enforcement actions for Metro North Bancshares of Minnesota and United Security Bancshares of California. Search the full list of effective enforcement actions here. [12/3/14]