Stablecoin bill moves forward in House

The House narrowly passed a reconciliation budget package with several tax provisions supported by ABA. The legislation next heads to the Senate.

The House Financial Services Committee advanced nine bills supported by ABA, covering issues ranging from bank merger applications to regulatory tailoring.

A proposed amendment to add a credit card rate cap to an unrelated bill on stablecoin regulation would devastate credit access for millions of consumers and small businesses, the ABA and 52 state bankers associations said.

While banks have long employed artificial intelligence tools, a new survey shows that a majority of banks globally have either deployed or are in the process of deploying generative AI tools.

An ABA public education campaign warning consumers about the risks of check fraud has received two awards for video and television excellence.

A proposed amendment would add language capping credit card interest rates at 10% to the GENIUS Act, an unrelated bill establishing a regulatory framework for payment stablecoins.