ABA and six other financial trade groups today said they “oppose the OCC’s effort to grant commercial companies like Amazon or Facebook a national payments charter to access the Federal Reserve payments system and safety net.”
Business conditions were most often called the single biggest challenge facing community banks, according to an annual survey released yesterday by the Conference of State Bank Supervisors.
BAFT, ABA’s global transaction banking subsidiary, announced today that Jose Luis Calderon has been appointed the new chairman of its Transaction Banking Global Leaders group.
The Federal Reserve today said it would change the implementation date for modifications to the Federal Reserve Banks’ payment services to facilitate adoption of a third same-day ACH processing and settlement window and for corresponding changes to the Fed’s Policy on Payment System Risk.
In an interpretive letter, the OCC gave institutions under its supervision the greenlight to hold deposits that serve as reserves for “stablecoins.”
With the COVID-19 pandemic disrupting the circulation of coins nationwide, the U.S. Coin Task Force—of which the American Bankers Association is a member—has published new resources for retailers, financial institutions and armored carriers to use to help encourage circulation.
In a letter today, American Bankers Association offered several recommendations for the Federal Reserve to consider as it continues to develop its FedNow service.
The Clearing House announced today that financial institutions holding 70% of demand deposit accounts now have access to real-time payments capabilities through their technology providers that have connected to the RTP Network.
Consumers paid down $60 billion in credit card debt in the first quarter of 2020, the largest first quarter paydown on record, according to a new report from WalletHub released today.
ABA announced today that the Consumer Financial Protection Bureau’s Kirsten Sutton has been selected to serve as executive director of its Card Policy Council, the leading voice on legislative, regulatory and communications issues facing credit card issuers and payment card networks.