Fed makes changes to payments system risk policy
The Federal Reserve today adopted changes to its payments system risk policy that would expand access to collateralized intraday credit from the Federal Reserve Banks.
Browsing: Payments
The COVID-19 pandemic and credit card market anomalies
Compared to the experience of the 2008–09 Great Recession and ensuing recovery, the COVID-19 pandemic-induced recession, along with federal and state responses, resulted in unexpected consumer behavior.
Survey: Debit cards preferred payment method for holiday shopping
Many U.S. shoppers will rely primarily on debit cards to purchase gifts for friends and family this holiday season, according to a new survey by TD Bank.
New York Fed: Credit cards defy credit slowdown
Consumer credit demand declined in 2022 with most credit application rates stable or weakening, but a notable exception was a rise in credit card applications, according to the Federal Reserve Bank of New York’s latest Survey of Consumer Expectations Credit Access Survey, released today.
Hsu praises ‘quiet trustworthiness’ of banks amid crypto chaos
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.
Podcast: Something old, something new in payments fraud
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.
Podcast: Fueling innovation through a venture strategy
Banks of all sizes access the innovation ecosystem through in-house development, fintech partnerships, acquisitions and venture investment. Huntington Bank does all four.
Federal Reserve research finds credit card net interchange revenues are negative
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.
FDIC’s Gruenberg: Payment stablecoin could offer cost-effective, real-time benefits
Any such payment system should be designed to “complement” the Federal Reserve’s soon-to-be-released FedNow system, Gruenberg said.
Poll: Businesses prefer banks to fintech for payment solutions
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.