COVID-19 Exposes Threats, Opportunities for the Payments Business
As consumer spending patterns shift, banks are adjusting on the fly and focusing on relationships.
Payments
ABA Supports Proposed NACHA Rule Changes
In a letter to NACHA last week, ABA offered support for several proposed changes aimed at improving and simplifying the...
Fed Announces Additional Actions to Support Intraday Credit
The Federal Reserve tonight announced several temporary actions—which will take effect upon publication in the Federal Register—to increase the availability...
Secret Service Notice Describes Features of Legitimate Economic Impact Payment Checks
As the Treasury Department prepares to issue paper checks to economic impact payment recipients, the U.S. Secret Service released a...
When Can I Pull A Credit Report on an Existing Loan Customer?
…and other answers to your compliance questions in the May/June 2020 ABA Regulatory Policy and Compliance Inbox.
ABA Joins Broad Coalition Seeking Clarity on Garnishment of Economic Impact Payments
The American Bankers Association today joined a broad coalition of financial trade and consumer organizations in a letter to congressional...
Financial Trades: Banks Working to Ensure Americans Receive EIPs
In a letter to Sens. Sherrod Brown (D-Ohio) and Elizabeth Warren (D-Mass.) today, ABA and three financial services trade organizations...
Emerging Vectors for Payments Fraud
With EMV card deployment reducing fraud at the point of sale, cyber-criminal schemes are targeting email, mobile devices and other...
ABA, Groups Call on Congress to Shield Economic Impact Payments from Garnishment
Congress should protect CARES Act economic impact payments from being garnished to pay creditors, ABA and several other financial groups...
IRS Launches Online Economic Impact Payments Tool to Check Status, Provide Payment Info
As previously reported, the Internal Revenue Service today launched a second online tool that enables consumers who have previously filed...
