Along with a coalition of bank trade groups and consumer advocacy organizations, ABA today urged the House to pass S. 3841, which would protect 2020 economic impact payments made under the CARES Act or other legislation from court-ordered garnishment.
The American Bankers Association joined several financial trade associations today in a letter to Acting Comptroller of the Currency Brian Brooks expressing concerns about the OCC’s plans to move forward with a narrow-purpose payments charter, noting that they would strongly oppose efforts to do so.
The lessons learned from the past six months can help us build stronger workforces, better brands and banks that are more resilient for years to come.
With the COVID-19 pandemic continuing to disrupt the normal circulation of coinage in the U.S. economy, the U.S. Coin Task Force convened by the Federal Reserve issued a statement Friday describing the circulation slowdown and urging consumers to get coins back into use.
The Senate today unanimously passed an ABA-advocated bill that would exempt the CARES Act economic impact payments from garnishment orders.
With the COVID-19 pandemic disrupting the circulation of coins nationwide, the U.S. Mint today called on the public to help address coin shortages by paying with exact change and returning any spare change to circulation by depositing coins, exchanging them for bills at a financial institution or taking them to a coin redemption kiosk.
Of payment cardholders who are familiar with contactless payments, three out of four prefer using a contactless credit or debit card to other payment options, including cash, chip cards, magnetic strip cards and mobile payment options like Apple Pay, according to a new survey from Entrust Datacard.
The Federal Reserve announced today that it will maintain its current fee schedules for priced services for most payments services in 2021.
…and other answers to your compliance questions in the July/August 2020 ABA Regulatory Policy and Compliance Inbox.
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.