The Federal Reserve System yesterday released a paper outlining its next steps in developing an infrastructure to speed up electronic payments and settlements.
The rate for a 30-year fixed-rate mortgage averaged 3.63 percent this week, down from last week’s 3.66 percent and at its lowest level since May 2013, Freddie Mac said yesterday.
The Supreme Court yesterday declined to hear a challenge by the retail industry to the Federal Reserve Board’s debit interchange fee cap rule. The court’s decision leaves in place a D.C. Circuit Court of Appeals ruling from March 2014.
The U.S. economy will continue to improve, with 2015 growth forecasted to reach 2.9 percent, above last year’s 2.5 percent growth, the ABA Economic Advisory Committee said on Friday.