As the Federal Reserve continues to consider which entities may become eligible for access to its payments systems, ABA and a coalition of trade groups called for the Fed to clarify how it will address problems of institutions with novel charters—such as state-chartered non-depository banks and crypto firms—seeking access.
The American Bankers Association Foundation and the Federal Trade Commission released an infographic with information to help consumers protect themselves when using mobile payment apps and services.
Banks that retain more of their brokerage activity in-house but outsource functions such as trade execution or clearing to third parties will face bigger hurdles.
Chair of the Financial Stability Board sent a letter to G20 finance ministers and central bank governors addressing financial stability issues caused by the invasion of Ukraine.
Helping banks secure their email—and their organizations
Fintech firms and traditional banks should be governed by proportional policies, International Monetary Fund analysts wrote in recent blog that accompanies the IMF’s latest chapter in its Global Financial Stability Report exploring fintech’s rapid growth.
“Return on experience” is now a useful measure for banks. The good news is that the tools for making the qualitative quantifiable already exist.
Which applications can be moved safely as they are, which ones should be modernized before they are moved and which ones should not be moved at all?
Acting Comptroller of the Currency Michael Hsu called for establishing an “intentional architecture” for stablecoins that would focus on “stability, interoperability and separability,” and also take into account privacy, security and the need to prevent illicit finance.
The CFPB is examining the effects of a concentrated core platform marketplace on consumers and banks, CFPB Director Rohit Chopra said today. Speaking to the bureau’s community bank and credit union advisory councils, Chopra said he is “concerned that the core services providers that small players rely on have too much power in the system.”