FEDERAL GOVERNMENT RELATIONS
FOMC minutes show another rate increase possible
Most members of the Federal Open Market Committee believe they may need to raise the target range for the federal funds rate a second time before the end of the year, although that decision will depend on further information, according to minutes from the FOMC’s most recent meeting.
Fed to split bank supervision into five regions
The Fed will divide its bank supervision into five geographic regions rather than splitting it among the 12 Reserve Bank districts, Vice Chair for Supervision Michelle Bowman said. The Fed also plans to revisit the criteria used to define community banks.
Lawmakers propose banning SIM boxes used in scam calls
A proposed bill would ban the sale and manufacturing of machines that help scammers disguise their phone calls and texts.
Fed extends comment deadline for proposed updates to bank insider regulation
The Federal Reserve has extended the comment period by a month for proposed changes to its regulation governing extensions of credit to bank “insiders,” such as board directors, executives and major shareholders.
Fed seeks community banker input on fraud
The Federal Reserve is seeking community banker input on a payment fraud trends survey. The Fed said:
- It wants to hear about community banks’ fraud-related experiences and challenges.
- The survey—which covers fraud trends, key focus areas, Federal Reserve Financial Services products, emerging concerns and engagement—takes approximately 10 minutes to complete.