Payments

ABA Offers Feedback on Federal Reserve Faster Settlement Proposal

In a comment letter to the Federal Reserve today, ABA offered feedback on potential Fed actions to accelerate interbank settlement of faster payments, including the idea of the Fed banks developing a 24/7/365 real-time settlement service and a liquidity management tool to support this service.

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Survey: Data Privacy Growing as Concern; Banks Seen as Trusted

In an era of frequent data breaches and growing concern over technology companies’ use of consumer data, nearly three-quarters of Americans said they are more concerned about their data privacy than they were a year before, according to a survey conducted by software company SAS.

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Fed Finalizes Proposal Harmonizing Reg J, Reg CC

The Federal Reserve today finalized a proposal to harmonize Regulation J -- which governs the collection of checks or other items by Federal Reserve banks and funds transfers through Fedwire -- with Regulation CC, which implements the Expedited Funds Availability Act.

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