The creation of a central bank digital currency “should only be pursued as a final option to meet clearly defined public policy goals that cannot be achieved through payments innovations that leverage existing digital dollars,” the American Bankers Association told the Federal Reserve in a comment letter.
A group of Republican lawmakers led by House Financial Services Committee Ranking Member Patrick McHenry (R-N.C.) this week urged the Federal Reserve to carefully examine whether the benefits of creating a central bank digital currency would outweigh the risks of doing so.
VDPs open a communication channel to external cybersecurity researchers, while also encouraging current bank customers to participate in the feedback loop.
With transactional data, banks can make borrowing smarter and better serve more customers.
ABA offered feedback to the CFPB on a recent outline of proposals under consideration for a joint agency rulemaking to develop quality control standards for the use of computer models, known as automated valuation models.
Analytics tools and ad platforms create more data than a human can possibly analyze and act on. Machine learning tools can identify trends and anomalies in large data sets faster and with greater precision.
The banking system remained strong overall, with robust capital and liquidity and improved asset quality in the second half of 2021, according to the Federal Reserve’s latest supervision and regulation report. Fed expands watch over banks’ fintech use.
The Securities and Exchange Commission is adding 20 positions to the unit responsible for protecting investors in crypto markets and from cyber-related threats.
According to a recent survey, around 80% of institutional investors believe that cryptocurrency investments are likely to overtake many traditional investment types and predict mainstream adoption.
The reference guide, created by NACHA’s Payments Innovation Alliance, provides background on the importance of terms and conditions when offering voice payments services and how terms may be modified to suit different needs.