For boards, knowing the right questions to ask about instant payments
For starters, the transition from daily batch payments processing to real-time workflows will require improved infrastructure.
For starters, the transition from daily batch payments processing to real-time workflows will require improved infrastructure.
The final rule is intended to address changes to the operational risk, technology and landscape in which FMUs operate that have taken place since the requirements were last updated in 2014.
Contrary to showing anti-competitive behavior, as the CFPB misreads the data, credit cards are a competitive sector that has expanded credit access.
A recent Consumer Financial Protection Bureau report on credit card competition misses the mark.
A set of proposed harmonization requirements for cross-border payments need to account for the implications and costs to U.S. depository institutions, ABA and two associations said.
Federal Reserve Governor Michelle Bowman said that she remained concerned about the data underpinning the Fed’s proposal to further lower the debit card interchange fee cap under Regulation II.
Revolving credit products such as credit cards and lines of credit are the most widely used borrowing tool by small-to-midsize businesses, with rewards credit cards used by more than half of such businesses, according to a new survey of SMB executives by U.S. Bank and PYMNTS Intelligence.
The Automated Clearing House Network handled 31.5 billion payments valued at $80.1 trillion in 2023, representing a 4.8% increase in payment volume from the previous year and a 4.4% increase in payment value, Nacha announced.
The CPFB proposed what it characterized as a “proactive step” to prevent banks and other financial institutions from charging fees for transactions that are instantaneously declined.
In a backdoor move to impose a de facto price cap on overdraft fees, the CFPB today proposed to apply requirements of Regulations Z to overdraft fees at banks and credit unions with more than $10 billion in assets.