NCRC

American Banker, March 1, 2022, More states look to cap consumer interest rates at 36% Lawmakers in New Mexico recently approved a 36% rate cap, which would slash the state’s current maximum APR from 175%. It now awaits the governor’s signature. Legislators in Rhode Island and Minnesota are considering similar restrictions, and consumer advocates in

The Wall Street Journal, March 2, 2022, Powell Says Fed Is on Track to Raise Rates in Two Weeks Federal Reserve Chairman Jerome Powell said he would propose a quarter-percentage point rate increase at the central bank’s meeting in two weeks amid high inflation, strong economic demand and a tight labor market, offering an unusually explicit preview of

AP News, March 1, 2022, From banking to sports to vodka, Russia’s isolation grows In barely three days, Russia has become an international outcast because of its invasion of Ukraine, and its leader is finding himself with fewer and fewer foreign friends. What’s more, the actions against Moscow are happening in diverse, far-reaching ways that

The White House, February 28, 2022, Fact Sheet: The Biden-?Harris Administration Advances Equity and Opportunity for Black People and Communities Across the Country From the first day in office and every day since, the Biden-Harris Administration has taken an historic approach to advancing racial equity, including directing every agency across the whole of the federal

New York Post, March 1, 2022, Russian cyber attacks against US banks increasing: sources Russia appears to have officially declared cyberwar on the US, taking what’s been described as preliminary steps at crippling its banking system and possibly other major industries, The Post has learned. The Biden administration has been working with bank executives for

The Washington Post, February 25, 2022, Supporters say they have the votes in the House to pass a reparations bill after years of lobbying More than three decades after it was first introduced, a House bill that would create a commission to study reparations for Black Americans has the votes to pass, its key champions

American Banker, February 23, 2022, Fed capital policy puts community development aid out of some banks’ reach A landmark Treasury Department program designed to invest billions in poor communities around the U.S. through specialized financial institutions is being hamstrung by little-known Federal Reserve guidance, significantly reducing the capital available for certain small banks. But one

American Banker, February 22, 2022, Ransomware attacks are rising, payment security consortium warns A payment security standards group released a warning this month about the growing threat of ransomware, echoing forecasts from the U.S. government and others that an uptick in such attacks, which coincided with the pandemic, will likely continue. The Payment Card Industry Security Standards