ABA provides feedback on Nacha risk management inquiry
ABA offered feedback on a recent request by Nacha for comment on four risk management topics that could inform future actions by the organization, although no specific rules have been proposed.
ABA offered feedback on a recent request by Nacha for comment on four risk management topics that could inform future actions by the organization, although no specific rules have been proposed.
Roughly four in five bank customers say they are aware of buy-now-pay-later services, with a third saying they have used a BNPL service within the past 90 days, according to a new survey by J.D. Power.
The Federal Reserve announced that 57 early adopter organizations have completed formal testing and certification in advance of FedNow’s launch planned for late July.
Payment app providers could take several steps to better protect servicemembers and their families from fraud, including new investments in anti-fraud measures and improving their responsiveness when an incident occurs, the CFPB said.
The Bank for International Settlements released a special chapter of its upcoming Annual Economic Report 2023 that lays out a “blueprint” for a future monetary system underpinned by central bank digital currency.
A proposed bill to impose network routing requirements on banks that issue credit cards is anti-consumer, anti-competitive and will harm everyone except large merchants, ABA and 51 state bankers associations said in a joint letter to congressional leaders.
The more card issuers can do to digitally empower cardholders, the more likely the card will be used, building loyalty and connection.
The CFPB issued a consumer advisory warning that many popular nonbank payment apps lack deposit insurance and therefore the protection of keeping money in a bank account.
The Bank for International Settlements’ proposed harmonization requirements for cross-border payments have not struck the right balance, and if mandated in their current form, would make cross-border payments slower, more expensive and less accessible than they are today, according to ABA, BAFT and the Clearing House
Newer payments systems such as social tokens and virtual cards are growing more popular among midsize businesses to conduct financial transactions, but traditional payment methods such as checks and physical credit cards still dominate, according to a new survey by Citizens Bank.