The Clearing House today announced an increase in the general transaction value limit for payments made on the Real-Time Payments Network.
In a joint comment letter with the Clearing House and the Consumer Bankers Association yesterday, the American Bankers Association and its subsidiary BAFT offered support for proposed changes to the Consumer Financial Protection Bureau’s remittance rule.
The nation’s banks stopped $22.3 billion in fraudulent transactions in 2018—almost $9 out of every $10 of attempted fraud—according to the American Bankers Association’s 2019 Deposit Account Fraud Survey Report released today.
Now that the famed Apple Card has been in the market for nearly 10 months, what can we learn from Apple’s foray into the banking—or more specifically, the credit card space?
As ATM withdrawals decline in number, the average transaction value has gone up.
In a move supported by ABA, the Federal Reserve today finalized new operating hours and procedures for the National Settlement Service and Fedwire Funds Service to facilitate adoption of a third same-day ACH processing and settlement window.
More than 174 billion non-cash payments—those made with debit card, credit card, ACH and checks—were made in the U.S. in 2018, totaling $97.04 trillion, the Federal Reserve reported today in its triennial payments study.
Next year, the FSB expects to tackle fintech developments worldwide, including the growing role of big tech firms in finance; the development of so-called “stablecoins,” virtual currencies pegged to real assets to minimize volatility; innovation to remove friction in cross-border payments; and the transition away from the London Interbank Offered Rate to new benchmarks.
The Basel Committee on Banking Supervision is seeking public feedback on how regulators should incorporate “crypto-assets,” including virtual currencies like bitcoin, into bank supervision.
The Consumer Financial Protection Bureau today proposed an American Bankers Association-advocated change to its remittance rule that would permanently allow depository institutions to estimate certain fees and exchange rates when making disclosures to their customers.