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The FDIC rescinded a 2023 financial institution letter that had stated that banks’ charging representment nonsufficient funds fees may be...
Policy
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...
FCC proposes stronger penalties on voice service providers for KYC failures
The FCC proposed to impose stronger “know your customer” requirements on voice service providers that originate calls, as part of...
Treasury issues new citizenship, anti-discrimination requirements for CDFI Fund awards
The Treasury Department proposed new rules to prevent CDFI Fund awards from being used to support individuals in the U.S....
ABA seeks clarity in rollover Trump account contributions
ABA urged the IRS to clarify how and when a $1,000 pilot contribution to a Trump account can be made...
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...
Agenices 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...
FOMC minutes show skepticism in taming inflation in near term
The lingering effects of tariffs, along with the conflict with Iran, have led most Federal Open Market Committee members to...
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...
FinCEN, banking agencies propose to overhaul Bank Secrecy Act compliance
FinCEN and the banking agencies proposed new rules to “fundamentally reform” compliance with the Bank Secrecy Act by setting standards...
