Reports of fraud and unreceived merchandise purchased online increased dramatically during the pandemic, according to new data released by the Federal Trade Commission, far surpassing the numbers seen during the most recent holiday shopping season.
The Federal Reserve announced today that it is forming a task force to address the issue of low coin inventories during the coronavirus pandemic—an issue that several ABA members have raised in recent days.
The OCC is planning to unveil what Acting Comptroller Brian Brooks called “payments charter 1.0” as soon as this fall, Brooks said on the latest episode of the ABA Banking Journal Podcast.
As bitcoin and other private digital currencies gain wider acceptance, is a “central bank digital currency” on the way soon?
The Federal Reserve today published a new framework that banks and other payment providers can use to classify and understand payments fraud.
Throughout the coronavirus pandemic, banks have driven “unprecedented speed and efficiency” in delivering COVID-19 relief, including the CARES Act Economic Impact Payments and Paycheck Protection Program forgivable loans, ABA said today.
The CFPB yesterday issued a statement providing temporary flexibility for credit card issuers when providing electronic versions of disclosures that are required to obtain electronic consent from a consumer in accordance with the E-Sign Act and Regulation Z.
The IRS today issued a reminder to consumers still awaiting their CARES Act economic impact payment that they may be receiving the payment on a prepaid debit card.
ABA Joins Consumer, Banking Groups in Support for Bill to Prevent Garnishment of Economic Impact Payments
The American Bankers Association today joined with twelve consumer groups and banking industry organizations in supporting a bipartisan bill that would prevent CARES Act economic impact payments from being subject to garnishment by private debt collectors.
The Consumer Financial Protection Bureau today said it would provide flexibility for creditors to resolve billing errors during the coronavirus pandemic.