Will the OCC’s clarification that U.S. banks can hold a cryptocurrency’s unique cryptographic keys turn out to be the onramp into a new revenue stream?
In a new survey from Providence, Rhode Island-based Citizens Financial Group, business leaders said that a bank’s ability to provide access to real-time payment and settlement services was the second-most-important factor when choosing a banking partner, after a bank’s ability to provide solutions throughout the business life cycle.
Even before consumers’ acceleration to online shopping due to the pandemic, card-not-present debit transactions rose 21% year-on-year in 2019, according to Pulse’s debit issuer survey released today.
The Federal Reserve today released more details about its forthcoming FedNow service to provide real-time payments settlement and clearing, including phased elements of the FedNow service.
As the coronavirus outbreak spread in the U.S. in the first quarter, credit card purchase volume and debt outstanding declined, according to ABA’s latest Credit Card Market Monitor released today.
As Senate leaders continue to negotiate provisions in the latest round of legislative coronavirus relief, the 51 state bankers associations today urged them to include S. 4159, the E-Sign Modernization Act, in the package.
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.