Brooks: OCC Continuing Effort to Clarify Regulatory Treatment of Stablecoins
The OCC is continuing its efforts, working with other agencies, to facilitate banks’ ability to engage with digital currencies, Acting...
Payments
When Can My Bank Cease Compliance with the Remittance Transfer Rule?
. . . and other questions from the ABA Regulatory Policy and Compliance Inbox for November/December 2020.
BAFT Launches Global Payments Industry Council
BAFT, ABA’s global transaction banking subsidiary, announced today it has launched a Global Payments Industry Council to drive strategy on...
Fed, FinCEN Propose to Lower Reporting Threshold for Funds Transfers
The Federal Reserve and the Financial Crimes Enforcement Network today proposed to reduce the transaction volume threshold for when banks...
ABA, Financial Groups Oppose Proposed Payments Charter Changes by OCC
ABA and six other financial trade groups today said they “oppose the OCC’s effort to grant commercial companies like Amazon...
For Community Banks, COVID-19 Brings Existential Concerns to Fore
Business conditions were most often called the single biggest challenge facing community banks, according to an annual survey released yesterday...
BAFT Appoints New Chairman of Transaction Banking Global Leaders Group
BAFT, ABA’s global transaction banking subsidiary, announced today that Jose Luis Calderon has been appointed the new chairman of its...
Fed Amends Implementation Date for Changes to Facilitate Same-Day ACH
The Federal Reserve today said it would change the implementation date for modifications to the Federal Reserve Banks’ payment services...
OCC Gives Banks Green Light to Hold Deposits Backing Stablecoins
In an interpretive letter, the OCC gave institutions under its supervision the greenlight to hold deposits that serve as reserves...
Coin Task Force Publishes New Resources to Address Coin Circulation Issues
With the COVID-19 pandemic disrupting the circulation of coins nationwide, the U.S. Coin Task Force—of which the American Bankers Association...
