Common Cents Act clears House
The House passed by voice vote bipartisan legislation to implement the phaseout of the penny by providing a framework for...
Payments
ABA, ICBA join state associations in urging Senate to strengthen stablecoin yield provisions in Clarity Act
In a joint letter to Senate leaders, ABA, ICBA and 76 state associations representing thousands of community financial institutions across...
ABA shows support for the Common Cents Act
ABA expressed support for the Common Cents Act, which renews calls for officially halting the production of the U.S. penny...
Fed: Noncash payments continue to grow, credit cards more frequently used
The number of noncash payments more than tripled since 2000, with credit cards now outpacing debit cards in growth in...
ABA raises concerns about proposed ACH return timeframe revisions
ABA said it opposes a proposal by Nacha to modify Automated Clearing House return timeframes, pointing to the high costs...
ABA offers principles to guide changes to payments system access
As policymakers consider proposals related to payment system access, such as new chartering models and Federal Reserve account access, they...
Bill would extend time for banks to review suspicious checks, wire transfers
Rep. Young Kim (R-Calif.) has introduced legislation to allow financial institutions to place extended holds on suspicious checks and wire...
OCC proposes Bank Secrecy Act, sanctions requirements for stablecoin issuers
OCC proposed regulations to implement Bank Secrecy Act and sanctions requirements for payment stablecoin issuers. The rulemaking was issued in...
FinCEN, banking agencies propose customer ID requirements for stablecoin issuers
FinCEN and the federal banking agencies released a proposed joint rule to establish customer identification program requirements for payment stablecoin...
Bank survey: Longer lifespans, new investment options changing how individuals manage wealth
Longer lifespans, accelerating family business transitions and shifting investment preferences are reshaping financial priorities among individuals with at least $3...
