Smaller debit card issuers—those covered by the Durbin amendment’s routing provision but not its interchange fee cap—continued to see a decline in debit interchange revenue, according to the Federal Reserve’s biennial survey of debit card issuers’ economics released today.
Responding to a request for feedback on consumer privacy legislation from Senate Banking Committee Chairman Mike Crapo (R-Idaho) and Ranking Member Sherrod Brown (D-Ohio), ABA today emphasized banks’ strong privacy and data security framework under the Gramm-Leach-Bliley Act and called for Congress to take an approach that ensures consistent privacy protections while promoting marketplace efficiency.
As part of its efforts to address the significant decline in global correspondent banking relationships since 2011, BAFT today released a “Respondent’s Playbook” that provides guidance on how to establish new correspondent relationships, review existing ones and increase the likelihood of a favorable outcome.
In a study evaluating small businesses’ satisfaction with merchant services providers, J.D. Power found that banks outperformed nonbank fintech firms and scale processors.
FirstBank CEO and ABA Government Relations Council Chairman Jim Reuter talks about blazing a trail.
Credit card use picked up in the third quarter of 2018, according to ABA’s latest Credit Card Market Monitor released today.
Financial innovation is happening worldwide. Here are some of the top developments to watch.
BAFT — ABA’s global transaction banking subsidiary — yesterday recognized the 32 members of its Future Leaders program class of 2019. This year’s class includes bankers from 14 different countries, representing a wide variety of disciplines within the transaction banking industry.
Noncash payments in the U.S. continued to see strong growth in the period between 2016 and 2017, according to an annual supplement to the Federal Reserve’s triennial payments study released today.