Fed to Hold Payments Services Fees Steady for 2021
The Federal Reserve announced today that it will maintain its current fee schedules for priced services for most payments services in 2021.
Browsing: Payments
Can My Bank Require Opt-In to Overdraft as a Condition of Receiving a Debit Card?
…and other answers to your compliance questions in the July/August 2020 ABA Regulatory Policy and Compliance Inbox.
New CFPB Study Examines Recent Debt Settlement, Credit Counseling Trends
A new report from the CFPB found “substantial changes in debt settlement activities over the last 13 years,” likely driven by market share increases among debt settlement companies.
FTC: Online Shopping Complaints Rise During Pandemic
Reports of fraud and unreceived merchandise purchased online increased dramatically during the pandemic, according to new data released by the Federal Trade Commission, far surpassing the numbers seen during the most recent holiday shopping season.
Fed Launches Task Force to Address Coin Shortages During Pandemic
The Federal Reserve announced today that it is forming a task force to address the issue of low coin inventories during the coronavirus pandemic—an issue that several ABA members have raised in recent days.
Podcast: OCC’s Brooks Plans to Unveil ‘Payments Charter 1.0’ This Fall
The OCC is planning to unveil what Acting Comptroller Brian Brooks called “payments charter 1.0” as soon as this fall, Brooks said on the latest episode of the ABA Banking Journal Podcast.
Have Virtual Currencies Virtually Arrived?
As bitcoin and other private digital currencies gain wider acceptance, is a “central bank digital currency” on the way soon?
Fed Publishes New Standardized Framework for Understanding Payments Fraud
The Federal Reserve today published a new framework that banks and other payment providers can use to classify and understand payments fraud.
ABA: Amid Pandemic, Banks Delivering Funds Quickly to Consumers, Businesses
Throughout the coronavirus pandemic, banks have driven “unprecedented speed and efficiency” in delivering COVID-19 relief, including the CARES Act Economic Impact Payments and Paycheck Protection Program forgivable loans, ABA said today.
CFPB Provides Flexibility on Electronic Card Disclosures During Pandemic
The CFPB yesterday issued a statement providing temporary flexibility for credit card issuers when providing electronic versions of disclosures that are required to obtain electronic consent from a consumer in accordance with the E-Sign Act and Regulation Z.