CFPB Urges Card Issuers to Seek Alternatives to Deferred Interest Promotions
The CFPB recently sent letters to top retail credit card companies expressing concerns about deferred interest products, which allow consumers...
Payments
ABA: CARD Act Has Led to Higher Credit Costs, Lower Availability
ABA today filed comments in response to the Consumer Financial Protection Bureau’s request for information regarding the consumer credit card...
Updates to Reg CC Encourage Faster Check Processing, Include Electronically-Created Items
The Federal Reserve today announced long-awaited changes to certain sections of Regulation CC, which implements the Expedited Funds Availability Act.
House Leaders Expected to Pull Durbin Repeal from Choice Act
House Republican leadership is expected to remove a provision repealing the Durbin Amendment from House Financial Services Committtee Chairman Jeb...
ABA Calls on CFPB to Examine Consumer Access to Remittance Services
As the Consumer Financial Protection Bureau prepares to assess the effectiveness of its final rule governing remittance transfers, ABA called...
ABA, Groups: Proposed Remittance Transfer Fees Could Drive Transactions Underground
Eight financial trade associations -- including ABA -- wrote to members of Congress today opposing the Border Wall Funding Act...
ABA Calls on Congress to Pursue National Data Protection Standards
In response to the ever-increasing threat of data breaches and cyber fraud, ABA today called on Congress to pursue national...
FBI: Social Engineering Scams Cost U.S. Businesses $1.6B since 2013
Social engineering wire transfer scams cost U.S. businesses nearly $1.6 billion between October 2013 and December 2016, according to figures...
Financial Choice Act Clears House Committee
The House Financial Services Committee today voted to advance the Financial Choice Act, Chairman Jeb Hensarling’s (R-Texas) sweeping, 600-page bill...
BAFT Elects New Officers
BAFT, ABA’s global transaction banking subsidiary, today announced the election of new officers for the 2017-2018 association year.
