News

Narrow Odds for Narrow Banks – The Fed’s disparate treatment of TNB hurts depositors.

---

“Can a regulator deny key services to a bank merely because it doesn’t like its novel business model? That’s the question in a lawsuit filed in federal court recently by…

CONTINUE READING

Federal Reserve is Sued, Accused of Limiting Competition.

---

“A former Federal Reserve official is suing the Fed for blocking his plan to create a new kind of bank, saying it is putting the interests of big Wall Street…

CONTINUE READING

Fed Rejects Bank for Being Too Safe.

---

“The basic business of banks is to take deposits and make loans. The deposits have to be “risk-free”: A deposit in a bank account ought to be just “money”; depositors…

CONTINUE READING

Fed Nixes Narrow Bank.

---

“A narrow bank would be a great thing. A narrow bank takes deposits, and invests 100% of the money in interest-paying reserves at the Fed. (The Fed, in turn, mostly…

CONTINUE READING

TNB Says Federal Reserve Bank of N.Y. Blocking its Business.

---

“TNB USA Inc. sued the Federal Reserve Bank of New York Friday seeking a court order forcing the organization to open a master account that the company says it needs…

CONTINUE READING