Fed Observes ‘Unprecedented Decline’ in In-Person Payments during COVID
Payment behavior “changed sharply in 2020 with the COVID-19 pandemic,” the Federal Reserve said today in a new research brief.
Payments
CFPB Seeks Information on Benefits, Risks of BNPL Products
The CFPB today issued orders to five companies offering buy now, pay later credit seeking information on the risks and...
FSB Seeks Input on Data Frameworks Affecting Cross-Border Payments
As part of its ongoing effort to enhance cross-border payments, the Financial Stability Board is conducting a survey to collect...
ABA Calls for Consistent Regulation as Crypto CEOs Visit Capitol Hill
Ahead of a House Financial Services Committee hearing on digital assets today—at which the heads of several cryptocurrency firms will...
ABA, CBA Call for Consistent Oversight of Bank, Big Tech Payments Products
In a letter to the CFPB today, the American Bankers Association and the Consumer Bankers Association emphasized the need for...
CFPB Publishes Research on Overdraft, Fee Revenues
Three types of aggregate fee revenues—maintenance fees, ATM fees and overdraft fees—all declined in 2020, with overdraft fees seeing the...
Fed’s 2022 Fees Expected to Rise 3.7%
The Federal Reserve System’s 2022 fee schedules for priced services that go into effect Jan. 3 are expected to be...
Report: Credit Card Purchase Volume Increases Sharply in Second Quarter
Credit card monthly purchase volumes increased sharply in the second quarter compared to the first quarter of 2021, surpassing pre-pandemic...
Fed’s Waller Pushes Back on Stablecoin Report Recommendations
Challenging a recent report from the President’s Working Group on Financial Markets, Federal Reserve Governor Christopher Waller said at a...
Morning Consult Survey: Consumers Continue to Give Bank Mobile Apps Top Marks
Ninety-nine percent of respondents in a recent American Bankers Association/Morning Consult survey rated their bank’s online and mobile app experience...
