Amid significant volatility in the cryptocurrency markets, as well as an uptick in crypto-related frauds and scams, Acting Comptroller of the Currency Michael Hsu today praised the “quiet trustworthiness of banks,” and highlighted the OCC’s “careful and cautious” approach to crypto activities by national banks.
Something old, something new: In 2022, check fraud remains a focus of bank risk professionals, while instant P2P payments are an increasingly popular platform for scammers seeking to take advantage of consumers.
Banks of all sizes access the innovation ecosystem through in-house development, fintech partnerships, acquisitions and venture investment. Huntington Bank does all four.
The Federal Reserve recently published new research that examines the main sources of credit card profitability based on FR-Y-14M data from January 2014 to December 2021.
Any such payment system should be designed to “complement” the Federal Reserve’s soon-to-be-released FedNow system, Gruenberg said.
Most businesses would rather partner with a bank for their payment solutions rather than work with a third-party financial technology partner, according to a recent survey by BNY Mellon and Aite-Novarica Group.
Waller is “highly skeptical” that there is a compelling need for the Fed to create a central bank digital currency.
Credit cards offered in conjunction with colleges, universities and affiliated organizations have continued to decline since the CARD Act was passed in 2009, the CFPB said in a report today.
The Basel, Switzerland-based organization identified three priorities for the payment program’s next phase