The Federal Reserve plans to publish this summer a discussion paper exploring the implications of issuing a U.S. central bank digital currency, Federal Reserve Chairman Jerome Powell said in a statement today.
BAFT, the American Bankers Association’s global transaction banking subsidiary, has named Maram Al-Jazireh as chair of its board for the 2021-22 association year.
Credit card monthly purchase volumes increased in the fourth quarter of 2020, rising 7% for super prime accounts, 8.6% for prime accounts and 8% for subprime accounts from the last quarter, according to the American Bankers Association’s latest Credit Card Market Monitor released today.
Amid substantial growth in online purchases in recent years, the Federal Reserve today reopened its rule on the Durbin Amendment.
In a significant move today, the Federal Reserve proposed new guidelines that it will use when evaluating requests for master accounts with the Fed or access to the agency’s financial services.
The Clearing House, Jack Henry, FIS and Fiserv announced today that they will cover the cost for minority-owned depository institutions to join the RTP network.
The American Bankers Association joined a coalition of nine other trade associations in a letter opposing a bill introduced in the California State Assembly that would create a public banking program, BankCal, within the state treasurer’s office that would provide financial services to California residents.
ABA today called for more congressional oversight in light of recent efforts by federal and state agencies to create new bank charters or apply new interpretations to traditional charters that would allow entities to enjoy bank-like benefits while circumventing the rigorous regulatory framework that applies to traditional banks.
A U.S. central bank digital currency moves from theory to ‘we have a responsibility to get this right.’
The American Bankers Association and six other financial trade groups today requested that the Internal Revenue Service improve its Get My Payment website to provide more accurate and timely information about the status of economic impact payments.