Michael Barr will step down from his role as the Federal Reserve’s vice chair for supervision by Feb. 28, or sooner if President-elect Donald J. Trump appoints a successor, the Fed said on Monday. Mr. Barr will continue to serve on the central bank’s Board of Governors. But in an interview, Mr. Barr said the…
Banking and business groups sued the US Federal Reserve over the central bank’s annual stress tests, saying they’re seeking more transparency in how the rules are adopted. The groups, including the Bank Policy Institute and American Bankers Association, contend that the Fed’s criteria for the tests are designed in secret and produce “vacillating and unexplained…
A Looming Crisis: As elite Ivy League and Ivy-equivalent institutions experience record-breaking application surges, a starkly contrasting crisis looms over many smaller colleges and universities across the United States. A recent report by the Federal Reserve Bank of Philadelphia warns that as many as 80 colleges may close their doors within the next five years,…