ABA DataBank: Baby food price increases need a time out

The Financial Stability Board has released a draft list of 12 sound practices to guide the adoption of artificial intelligence by banks and other financial institutions.

As federal regulators draft anti-money laundering and sanctions regulations for payment stablecoin issuers, they need to address the financial crime risks posed by secondary market payment stablecoin activities, ABA said.

Higher inflation will continue to weigh on consumer and business sentiment, erode purchasing power and dampen real economic growth. This could be a headwind for loan demand, particularly for interest rate sensitive products such as mortgages and commercial...

ABA said that while it appreciates the IRS incorporating its recommendations into the proposed revisions to W-9 tax forms, the association still has significant concerns about some of the instructions for completing the form.

A federal appeals court should uphold a district court ruling and reject a retailer lawsuit seeking to overturn how the Federal Reserve calculates debit card interchange fees, as a decision in favor of retailers would result in substantial...

ABA expressed support for the FCC’s proposals to strengthen its numbering policies — which govern how phone numbers are distributed and sold — to combat criminals who place illegal calls that impersonate banks and other legitimate businesses.