FedNow adds risk mitigation feature, boosts transaction limit
The FedNow instant payments service this week announced it has launched a new account activity threshold feature and raised its...
Payments
ABA launches online Treasury check verification platform
ABA launched a new online platform that will enable member banks to easily verify government checks and their payee information...
Justice Department seizes millions of dollars linked to alleged crypto investment scams
The Department of Justice announced it has seized $225.3 million in funds linked to cryptocurrency investment scams. The action marks...
FATF releases revisions to international standard for payment transparency
FAFT announced several revisions to its recommendation on payments transparency, which it said will enhance the safety and security of...
Stablecoin bill clears Senate
The Senate voted in favor of legislation to establish a regulatory framework for payment stablecoins, with proposed amendments to establish...
Banking agencies seek public comment on strategies to combat payments fraud
The FDIC, Federal Reserve and OCC issued a request for comment on potential actions to help consumers, businesses and financial...
Illinois pushes back implementation date for state interchange fee law
Illinois Gov. JB Pritzker signed into law a bill that extends by a year the effective date of a first-of-its-kind...
Illinois lawmakers vote to delay implementation date for state interchange fee law
The Illinois General Assembly approved legislation extending by a year the effective date of a first-of-its-kind state law restricting interchange...
ABA DataBank: Increase in late payments by buy now, pay later users
Close to one-fourth of buy now, pay later users were late making a payment in 2024, a significant increase from...
Public comment sought on plan to phase out U.S. Treasury paper checks
The Treasury Department is taking public comment on plans to implement President Trump’s executive order directing it to no longer...
