Browsing: Payments

Newsbytes

As expected, NACHA today increased the dollar limit for same-day ACH transactions from $100,000 to $1 million. The change was executed in collaboration with the Federal Reserve and The Clearing House, the network’s two ACH operators.

Newsbytes

The Treasury Department today issued a new round of sanctions against individuals who have supported Russian President Vladimir Putin’s invasion of Ukraine, including the management board of VTB Bank, which was also previously sanctioned.

Newsbytes

Speaking at the American Bankers Association Washington Summit today House Financial Services Committee Ranking Member Patrick McHenry (R-N.C.) outlined his legislative priorities with respect to innovation in financial services, which include defining stablecoins, defining digital assets and addressing the question of central bank digital currencies.

Community Banking

While the Federal Reserve seeks public comment on the benefits and risks of creating a central bank digital currency, Fed Governor Michelle Bowman said today that she “intends to keep an open mind” about a CBDC but that the use case for it is not readily apparent to her.

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