The Financial Crimes Enforcement Network today issued guidance on highlighting the regulatory expectations for nonbank sellers of prepaid cards. The guidance — which addresses frequently asked questions related to non-bank prepaid card offerings — supplements previous guidance issued by FinCEN in 2011.
The U.S. banking system remained sound and resilient, with regulatory capital ratios approaching or exceeding historical highs, the Federal Reserve said in the second of its two yearly reports on the nation’s financial stability.
The FedNow instant payments service saw nearly $17.5 billion in transactions in the third quarter of the year, up from less than $500 million in the second quarter.
The average cost of this year's classic holiday feast is $58.08, a decline of 5% from 2023. Still, a Thanksgiving meal is 19% higher than it was in 2019, pre-pandemic.
The Federal Reserve announced 2025 pricing for payment services the Federal Reserve Banks provide to banks and credit unions, with an estimated 2.8% average price increase for established, mature services.
The University of Michigan Consumer Sentiment Index rose 1.8% in November compared to the month prior, landing at 71.8, according to final results for the month.
More than half of U.S. consumers are conducting their banking via mobile apps more often than any other method, according to a new survey conducted by Morning Consult on behalf of the ABA.
