Browsing: Payments

Newsbytes

The federal banking agencies “plan to issue a series of policy statements in the coming months” addressing “how existing rules and policies apply to crypto assets, what types of activities are permissible for banks to engage in and what supervisory expectations we have for banks that do engage in such activities,” FDIC Chairman Jelena McWilliams said in remarks at an industry event today.

Newsbytes

As part of October’s Get Coin Moving Month, the U.S. Coin Task Force—of which the American Bankers Association is a member—is urging Americans to return their dormant coins into circulation. There is currently $46.8 billion in coins in circulation, according to the task force, but much of it is sitting unused in 128 million households.

Payments

Central bank digital currencies will meet the goals envisioned by their proponents only if they include private-sector participation, interoperability with the existing payments system and careful, deliberate design and implementation, a group of central banks that includes the Federal Reserve said yesterday.

Newsbytes

Following the onset of the COVID-19 pandemic, credit card debt fell to $811 billion in the second quarter of 2020, before rising to $825 billion by the end of the year, the largest six-month decline on record, according to the biennial Credit CARD Act report released by the CFPB today.

1 17 18 19 20 21 75