FSB exploring options for adopting Legal Entity Identifier for cross-border payments
The Financial Stability Board today released a report on how the Legal Entity Identifier—a unique alpha-numeric code that provides for...
Payments
J.D. Power: Debit, credit card use still outpacing alternative payment methods
Debit and credit card transactions continue to lead the way in payments transactions over digital payments alternatives, according to recent...
Yellen reiterates need for consistent regs on stablecoins
After several weeks of upheaval in the cryptocurrency market—including prominent stablecoins like TerraUSD and USDD breaking their U.S. dollar pegs—Treasury...
Fed finalizes ISO 20022 timeline extension
The Fed also confirmed the new timeline for implementation based on review of public comments: March 10, 2025.
ABA, groups seek longer comment period for ‘unexpected’ CFPB card fee ANPR
The American Bankers Association and several other trade groups last week requested a 60-day extension to the comment period for...
Payment messaging upgrade promises benefits
Enriched data from ISO 20022 is expected to spur new payment-related products and more insightful analysis into customer payment patterns
Survey: Consumers worried about continued Fed rate hikes
The cost of existing credit card debt continues to rise as the Federal Reserve has increased interest rates this year—so...
Consumers pay down less credit card debt in Q1 2022
Consumers paid down $13.2 billion in credit card debt in the first quarter of 2022, 76% less than the same...
Sanctions 101: How banks can navigate SWIFT and export bans
Financial institutions will benefit by embracing innovation and being proactive during breaking developments.
Fed to delay ISO 20022 implementation until 2025
The Federal Reserve signaled that it intends to delay the implementation of the International Organization for Standardization’s 20022 message format...
