The Financial Fraud Epidemic
As the COVID-19 pandemic turns one, bankers and cyber experts reflect on the rapid rise of scams and fraud schemes aimed at banks and their customers.
Browsing: Payments
Zelle Payments Now Able to be Cleared, Settled Over RTP Network
The streamlined instant payment experience is expected to benefit consumers, businesses.
Financial Trades Urge Congress to Shield EIPs from Garnishment
As Congress considers an additional COVID-19 rescue bill, ABA today joined a coalition of 17 other financial trade groups calling on lawmakers to include language in the bill to ensure that any economic impact payments will be protected from assignment or garnishment.
Powell: Fed Weighing Pros and Cons of Digital Dollar
The Federal Reserve is “looking very carefully” at whether and how it might issue a digital dollar, Fed Chairman Jerome Powell told members of Congress today.
Financial Trade Groups Offer Recommendations to Improve EIPs
As lawmakers consider a new round of direct payments as part of a new COVID-19 relief package, the American Bankers Association and six other financial trade associations offered recommendations to the Treasury Department for improving the economic impact payments process.
Report: Credit Card Purchase Volume Rebounds in Third Quarter of 2020
Credit card monthly purchase volumes rebounded strongly in the third quarter of 2020, jumping more than 20% from the prior quarter despite challenges from the pandemic-induced recession, according to ABA’s latest Credit Card Market Monitor released today.
J.D. Power: Satisfaction with Small Biz Merchant Services Declines
Small businesses’ satisfaction with merchant services providers took a hit during the COVID-19 pandemic, according to the J.D. Power 2021 Merchant Satisfaction Study released today.
NACHA Sees Record Spike in ACH Payments during Pandemic
A total of 26.8 billion payments were made on the ACH Network in 2020—up 8.2% from a year prior—with a record of more than 2 billion new payments added, according to new figures released by NACHA today.
FedNow to Launch in 2023
The Federal Reserve yesterday said that its FedNow service will be ready to launch in 2023. The Fed previously indicated that the service would be ready sometime in 2023 or 2024.
Maintaining Connections to Bank Customers Through the Pandemic and Beyond
Two Wisconsin banks take extra steps to adjust their branch services.