Bank executives and industry advocates welcomed the Federal Reserve's interest rate reduction but warned that careful planning for future drops is necessary to avoid creating market turmoil.

The Federal Reserve said it identified consumer compliance deficiencies in a recent examination of Washington State-based UniBank.

Consumer Financial Protection Bureau Director Rohit Chopra said regulators urgently need to implement the Basel III endgame bank capital proposal, suggesting his opposition to the revised rule centers on the process of re-proposal rather than more substantive opposition to suggested revisions.

With two excellent real-time payments rails now available in the U.S., enabling QR code transactions is essential. The financial services industry needs to come together and establish uniform standards.

The danger for the central bankers is that "they go too fast or too slow and that risk is higher now than it was six months ago," BofA Chief Executive Brian Moynihan said.

The Federal Open Market Committee is expected to cut interest rates at its September meeting, which will also provide a new Summary of Economic Projections. Marvin Loh, senior macro strategist at State Street Global Markets, will join us on September 19 to examine the meeting, the SEP and Fed Chair Powell's press conference.

Federal Reserve Bank of Dallas President Lorie Logan repeated her call for the U.S. central bank to lower interest rates at a careful pace as the economic environment remains uncertain.

Federal Reserve Board Gov. Christopher Waller argued that while decentralized finance technologies can reduce reliance on intermediaries and enhance efficiency, they ultimately pair well with centralized finance.

The Bank Policy Institute and The Clearing House filed a motion to join the central bank's defense of Regulation II.

The Federal Reserve Bank of Chicago president stuck by his view that the U.S. central bank has moved past its singular focus on price pressures.