Podcast: How Banks Can Manage Risks of Coronavirus Aerosolization

The objective is not simply to stop a transaction. It is to help the customer recognize the deception and prevent additional losses.

The Treasury Department announced the launch of a new public-private initiative "to help accelerate the U.S. financial sector's transition to quantum-safe technology."

Federal housing and banking regulators are rescinding 2022 guidance on special-purpose credit programs, saying the document conflicts with fair lending law.

Pennsylvania regulators closed Tioga-Franklin Savings Bank in Philadelphia and appointed the FDIC as receiver. Second Federal Savings and Loan Association of Philadelphia agreed to assume all deposits and purchase substantially all assets of the bank.

A proposed rule to require payment stablecoin issuers to maintain customer identification programs must go further if it is to reflect those firms’ business models and ensure equal treatment for all financial institutions, ABA said.

A recent effort by the Financial Action Task Force to improve cross-border payment transparency is commendable, but there are additional steps the task force should take to reduce operational challenges and preserve a true risk-based approach, ABA said.