Podcast: The Fintech Policy Lightning Round

Brian Moynihan said it was incumbent on large banks to build the infrastructure, working through industry utilities, to ensure new payment rails like stablecoins are accessible and interoperable.

Federal Reserve Governor Christopher Waller proposed the creation of a “skinny” master account for payment services that would be easier to obtain than a regular master account but would come without the latter’s “bells and whistles.”

A proposed Senate bill would raise the reporting thresholds for currency transaction reports and suspicious activity reports and require the Treasury Department to adjust the amounts for inflation every five years.

ABA shared a long list of recommendations for re-proposing the CFPB’s personal financial data rule, saying the rule finalized in 2024 is so broken that it “simply cannot stand.”

Australia has had success in fighting financial fraud by embracing a voluntary system in which banks agree to take steps to further protect their customers — a contrast from the U.K., where mandatory reimbursements from scam losses has...

A new survey conducted by Morning Consult on behalf of ABA found that a strong majority of U.S. consumers are happy with their credit cards and do not want the government to interfere with their cards’ rewards programs.