Sanctions 101: How banks can navigate SWIFT and export bans
Financial institutions will benefit by embracing innovation and being proactive during breaking developments.
Browsing: Payments
Fed to delay ISO 20022 implementation until 2025
The Federal Reserve signaled that it intends to delay the implementation of the International Organization for Standardization’s 20022 message format for the Fedwire Funds Service to sometime in the first quarter of 2025. T
Podcast: How a CBDC would ‘fundamentally rewire our economy’
In a special bonus episode of the ABA Banking Journal Podcast, ABA’s Rob Morgan digs into the association’s comments on the Federal Reserve’s discussion paper on central bank digital currencies.
ABA: No compelling case exists for U.S. CBDC
The creation of a central bank digital currency “should only be pursued as a final option to meet clearly defined public policy goals that cannot be achieved through payments innovations that leverage existing digital dollars,” the American Bankers Association told the Federal Reserve in a comment letter.
Study: Fraud attempts rise 41% in 2021
Fraud attempts shot up 41% year-over-year in 2021, according to a new survey released by NICE Actimize.
Fed finalizes Reg J amendments governing FedNow service
The Federal Reserve issued a final rule designed to help the agency implement the instant FedNow payments service, scheduled to go live in 2023.
ACH Network shows strong Q1 growth
B2B payments increased by 15.5% from Q1 2021, with more than 1.4 billion ACH B2B payments made. It’s also a 35.5% increase from Q1 2020,
Senate hearing rekindles debate over Durbin amendment
At a Senate Judiciary Committee hearing, banking, credit card industry representatives and some lawmakers pushed back against proposals to expand interchange regulation to credit cards, arguing that the existing interchange fee limits imposed by the Durbin amendment more than a decade ago are hurting consumers.
Financial industry groups unite to oppose flawed interchange regulations
Ahead of a hearing in the Senate Judiciary Committee on credit and debit card interchange fees, ABA joined with a broad coalition of industry groups to communicate to lawmakers the serious flaws of interchange regulations and push back against efforts to expand the Durbin amendment.
NACHA releases guide addressing contractual considerations of voice payments
The reference guide, created by NACHA’s Payments Innovation Alliance, provides background on the importance of terms and conditions when offering voice payments services and how terms may be modified to suit different needs.