Browsing: Payments


The Federal Reserve signaled that it intends to delay the implementation of the International Organization for Standardization’s 20022 message format for the Fedwire Funds Service to sometime in the first quarter of 2025. T


The creation of a central bank digital currency “should only be pursued as a final option to meet clearly defined public policy goals that cannot be achieved through payments innovations that leverage existing digital dollars,” the American Bankers Association told the Federal Reserve in a comment letter.

Community Banking

At a Senate Judiciary Committee hearing, banking, credit card industry representatives and some lawmakers pushed back against proposals to expand interchange regulation to credit cards, arguing that the existing interchange fee limits imposed by the Durbin amendment more than a decade ago are hurting consumers. 

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