THE news

NEW YORK–Federal prosecutors in Manhattan have opened an investigation into possible lending fraud in the New York City taxi industry, and a number of now-defunct credit unions are expected to be involved.

WASHINGTON—Congress has until Sept. 30 to pass the National Defense Authorization Act (NDAA) for fiscal year 2020 and both credit union associations are now back on the Hill lobbying to have language eliminated that would give banks equal access to military bases as credit unions.

JACKSON HOLE, Wyo.–In comments at the conclusion of the Fed’s annual summer retreat here, Federal Reserve Chairman Jerome Powell said objective is to maintain the economic expansion, but also made an indirect reference to President Trump’s tariffs by saying “trade policy uncertainty” was the new challenge.