ABA Calls for ‘Circuit Breaker’ ahead of ACH Threshold Increases
The American Bankers Association on Friday provided feedback to NACHA on its proposed plan to increase the dollar limit for...
Payments
CDIAC Urges Fed to Proceed with Caution on Non-Traditional Bank Access to Payments System
Members of the Federal Reserve’s Community Depository Institution Advisory Council urged the Fed to “be cautious in its approach to...
BAFT Announces Participants in 2021 Future Leaders Program
BAFT, the American Bankers Association’s global transaction banking subsidiary, today congratulated graduates of its Future Leaders program, which recognizes upcoming...
Fed to Remove Caps on Coin Distribution
The Federal Reserve has announced that it will return to regular coin distribution for all coin denominations beginning on Jan....
IRS Addresses EIP Processing Issue in Updated FAQs
The Internal Revenue Service tonight clarified that economic impact payment recipients who had their ACH payments erroneously sent to an...
OCC Greenlights Use of Stablecoins for Payments Activities
In an interpretive letter yesterday, the OCC verified that national banks and federal savings associations may use independent node verification...
IRS: ‘Get My Payment’ Portal Now Live
The Internal Revenue Service today announced that the Get My Payments portal—available in English and Spanish—is now live for individuals...
Treasury: Latest COVID-19 Economic Impact Payments Being Processed Tonight
The Internal Revenue Service has begun processing ACH files for the $600-per-person economic impact payments, with a value date of...
COVID-19 EIP Transactions Expected to Land As Soon as Tomorrow
After President Trump signed the COVID-19 economic relief bill Sunday night, bankers should expect to see ACH transactions for the...
Congressional Leaders Announce Deal on Bipartisan COVID-19 Relief Package
After weeks of negotiations, congressional leaders tonight announced a deal for a $900 billion bipartisan coronavirus relief package.
