House Republicans ask Fed to reconsider approach to recirculating pennies
House Republicans said they are concerned by the Federal Reserve’s decision to cease accepting penny deposits or orders at many...
Payments
FinCEN targets money services businesses along southwest U.S. border
FinCEN announced it has taken multi-tiered actions against more than 100 money services businesses along the southwest U.S. border for...
Fed releases report on debit card interchange fee revenue
U.S. payment card networks processed 100.7 billion debit and general-use prepaid card transactions valued at $4.7 trillion in 2023, representing...
CFPB: Earned wage access products not subject to Truth in Lending Act
The CFPB is once again reversing course on whether earned wage access products are subject to the Truth in Lending...
Fed seeks feedback on proposed ‘skinny’ accounts for payment services
The Federal Reserve is seeking comment on whether to create a new “payment account” category that certain financial institutions could...
ABA, 52 state bankers associations urge Congress to close stablecoin interest loophole
ABA joined 52 state bankers associations in sending a joint letter to Congress urging lawmakers to clarify and enforce the...
Podcast: Cybersecurity in a mobile-first banking landscape
Russell Hernandez provides a unique look into the Philippine banking sector, discussing how his mobile-first digital bank tackles account takeover...
Fed rescinds guidelines for weighing crypto requests from non-FDIC insured banks
The Federal Reserve rescinded a 2023 statement on how it would evaluate requests from non-FDIC insured banks to engage in...
FDIC proposes application process for banks seeking to issue stablecoins
The FDIC proposed rulemaking to establish a process under which banks and savings institutions can seek agency approval to issue...
CFPB finds growth in buy now, pay later use
Consumers are using buy now, pay later services more frequently and taking on larger loan amounts each year, according to...
