Browsing: Payments

Newsbytes

The CEOs of the seven largest retail banks appeared before Congress today for the second of two days of hearings, defending the Zelle peer-to-peer payments network and assuring lawmakers that their institutions reimburse customers for unauthorized payments.

Newsbytes

Consumers have reduced the proportion of purchases they charge to credit cards over the past year as their financial stress increased and other payment options—particularly “buy now, pay later” alternatives—grew in popularity, according to the most recent annual survey on credit card satisfaction by consumer research firm J.D. Power, released today.

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ABA joined a broad coalition of state bankers associations and credit union associations in a strongly worded letter sent Friday to congressional leaders opposing S. 4674, the Credit Card Competition Act of 2022. The bill, which was introduced by Sens. Roger Marshall (R-Kan.) and Dick Durbin (Ill.), would create new credit card routing mandates that will affect banks that issue credit.

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