The Clearing House’s Real-Time Payments system is open to all depository institutions with no volume discounts and with a model that will lead to lower pricing as the system reaches scale, TCH President and CEO Jim Aramanda said today at the ABA Payments Forum in Washington.
As promised in March, the Clearing House today named two community bankers to the Real-Time Payments Business Committee. The committee provides input and guidance to the RTP network, a new real-time core payments system operated by TCH.
The American Bankers Association announced today that it has hired Consumer Financial Protection Bureau veteran Dan Smith to serve as executive director of its Card Policy Council.
The U.S. Faster Payments council—an industry-led coalition dedicated to driving faster payments innovation and adoption—has announced that ABA SVP Steve Kenneally has been elected to a two-year term on its board.
The Financial Crimes Enforcement Network today issued guidance on how its regulations apply to money transmission involving convertible virtual currencies.
The Federal Reserve today sought public comment on whether the Fed banks should extend the daily operating hours of the National Settlement Service and Fedwire Funds Service to facilitate adoption of a third same-day ACH processing and settlement window.
ABA yesterday urged the Consumer Financial Protection Bureau to use its authority to update outdated disclosure rules to meet the needs of consumers and facilitate seamless digital payment experiences.
Credit card use picked up in the fourth quarter of 2018, according to the American Bankers Association’s latest Credit Card Market Monitor released today.
The Consumer Financial Protection Bureau has issued a request for information seeking input on potential changes to its remittance rule, which established requirements for companies sending international money transfers on behalf of consumers.
Cash and coin remain resilient amid the digital payments revolution.