The Financial Stability Board today released a report on how the Legal Entity Identifier—a unique alpha-numeric code that provides for identification of legal entities in a financial transaction—can be used in cross-border payments.
Debit and credit card transactions continue to lead the way in payments transactions over digital payments alternatives, according to recent research published by J.D. Power.
After several weeks of upheaval in the cryptocurrency market—including prominent stablecoins like TerraUSD and USDD breaking their U.S. dollar pegs—Treasury Secretary Janet Yellen reiterated her call for a regulatory framework for stablecoins.
The Fed also confirmed the new timeline for implementation based on review of public comments: March 10, 2025.
The American Bankers Association and several other trade groups last week requested a 60-day extension to the comment period for the CFPB’s unexpected advance notice of proposed rulemaking on credit card late fees and late payments.
Enriched data from ISO 20022 is expected to spur new payment-related products and more insightful analysis into customer payment patterns
The cost of existing credit card debt continues to rise as the Federal Reserve has increased interest rates this year—so far, by $4.9 billion, according to a recent WalletHub survey.
Consumers paid down $13.2 billion in credit card debt in the first quarter of 2022,…
Financial institutions will benefit by embracing innovation and being proactive during breaking developments.
The Federal Reserve signaled that it intends to delay the implementation of the International Organization for Standardization’s 20022 message format for the Fedwire Funds Service to sometime in the first quarter of 2025. T