The Federal Reserve announced today that it will maintain its current fee schedules for priced services for most payments services in 2021. The Fed acknowledged the uncertainties created by the coronavirus pandemic and said it intends to hold most prices steady “in order to support the business planning of users and providers of payment services.” The Fed said it will publish a final list of 2021 fee schedules in the Federal Register later this year.
The total number of mortgage applications and originations “dropped significantly” in 2023, with both falling by roughly a third from the year before, the CFPB said.
ABA and the Consumer Bankers Association urged a New York City agency to withdraw a proposed rule to expand the procedural requirements for creditors collecting debts in their own name.
The Office of Cybersecurity and Critical Infrastructure Protection has released a consumer advisory on avoiding cyber and online scams during the holiday season, including a warning about suspicious texts or emails claiming to come from financial institutions.
ABA joined associations representing bankers and credit unions in filing a lawsuit challenging the CFPB's effective cap on overdraft fees.
The FCC will discontinue its requirement that banks obtain certain types of Weiss safety ratings to be eligible to provide a letter of credit to telecommunications provider recipients of the Rural Digital Opportunity Fund.
Nearly 80% of commenters on the Federal Reserve’s proposed rule to lower the cap on debit card interchange fees oppose the idea, according to a new analysis by ABA.
