ACH Network handled more than eight billion payments in Q1

As it seeks to implement the Genius Act, the Treasury Department should not allow states to greatly expand the scope of services offered by payment stablecoin issuers beyond what is spelled out in the law, ABA said.

The real work for most banks isn't deciding whether or not to become an issuer. It's building the strategy that comes after that answer and showing up as the critical and trusted infrastructure bank customers continue to rely on. 

The Senate adjourned without holding a final vote on the Clarity Act, punting further action on the bill until at least September.

ABA supports requiring stablecoin issuers to comply with the Bank Secrecy Act and sanctions requirements, but proposed rulemaking to establish those standards needs further refinements, the association said in a letter to the FDIC.

What a century of fraud can teach banks about the next generation of risk.

While frontier artificial intelligence models strengthen both cyberattacks and cyber defense, the financial costs for both are “asymmetric” and may favor attackers, according to a new bulletin published by the Bank for International Settlements.