TCH, EBA Clearing, Swift plan pilot for faster cross-border payments
With the support of 24 international banks, EBA Clearing, Swift and the Clearing House plan to initiate a pilot service...
Payments
ABA, groups: more clarity needed on Fed payments system access proposal
As the Federal Reserve continues to consider which entities may become eligible for access to its payments systems, ABA and...
Regulatory arbitrage in the payments system is risky business
Innovation that puts the payment system at greater risk isn’t “disruption.” It’s an unforced error that the Fed can and...
ABA Foundation, FTC release consumer education infographic on payment app scams
The American Bankers Association Foundation and the Federal Trade Commission released an infographic with information to help consumers protect themselves...
Shorter settlement cycle means banks’ brokerage services face challenges
Banks that retain more of their brokerage activity in-house but outsource functions such as trade execution or clearing to third...
CFPB Issues Blog Post Criticizing NSF Fees
The Consumer Financial Protection Bureau issued a blog post today that criticized banks that charge nonsufficient funds fees.
Yellen calls for ‘appropriate oversight’ for digital asset, crypto firms
In a letter to FDIC-insured banks, the agency requested that any institution considering engaging in crypto-related activities provide notification to...
OFAC ramps up Russian sanctions; Banks, individuals targeted
With the Russian invasion of Ukraine still ongoing, the Treasury Department’s Office of Foreign Assets Control today announced additional significant...
TCH raises RTP network transaction limit to $1 million
The Clearing House today announced an increase in the general transaction value limit for payments made on the Real-Time Payments...
OFAC Cracks Down on Sanctions Evasions Networks, Targets New Sectors
As the Office of Foreign Assets Control works to crack down on sanctions evasions networks and technology companies associated with...
