ABA recommends credit union regulator pause stablecoin rulemaking
The National Credit Union Administration should pause setting up a process through which credit unions can seek approval to issue...
Payments
The CEA studied the wrong question on stablecoin ‘yield’ and community banks
The CEA paper minimizes the core risk by starting from the wrong question. There is already ample evidence and analysis...
FDIC rescinds guidance on representment NSF fees
The FDIC rescinded a 2023 financial institution letter that had stated that banks’ charging representment nonsufficient funds fees may be...
ABA recommends revisions to CFPB credit card plan survey
The CFPB should revise a regular survey on credit card plans to undo changes made by the previous administration that...
Treasury to share cybersecurity information with digital asset firms
The Treasury Department will offer digital asset firms the same cybersecurity information it shares with banks and other financial institutions,...
White House report downplays risk to banks from stablecoin interest payments
A prohibition on paying interest or yield on payment stablecoins would do “very little” to protect bank lending “while forgoing...
Agencies propose anti-money laundering, sanctions requirements for stablecoin issuers
The Financial Crimes Enforcement Network and Office of Foreign Asset Control jointly proposed a new rule to establish BSA and...
Fed proposes opening FedNow to cross-border payments
The Federal Reserve proposed a new rule to let banks and credit unions use intermediaries to send transfers through the...
FDIC proposes rulemaking to implement Genius Act
The FDIC board advanced proposed rulemaking to implement certain provisions of the Genius Act, including requirements for reserve assets, risk...
Full Tenth Circuit to examine decision in Colorado rate cap lawsuit
The full Tenth Circuit Court of Appeals has agreed to examine a three-judge panel ruling leaving in place a Colorado...
