Nichols Makes the Case for Responsible Fintech Regulation

A responsibly regulated fintech industry is essential for ensuring consumer protection and allowing for greater cooperation between banks and alternative financial service providers, ABA President and CEO Rob Nichols said in an op-ed in American Banker today.

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ABA Facilitates Mobile Alerts by Wireless Carrier

ABA recently worked with Verizon Communications, Inc. to ensure that banks would be able to send data breach notifications, suspicious activity alerts, and other time-sensitive messages to their customers over Verizon’s network, without the bank having first to obtain the prior express consent of the customer. In July, the Federal Communications Commission released an order that granted four petitions made ...

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Nine State Attorneys General Push for PIN Technology

A small group of state attorneys general sent a letter to the executives of major card companies on Monday urging them to implement chip-and-PIN technology in credit and debit cards, arguing that it would offer greater protection from fraud. However, the letter — signed by nine AGs — acknowledges that a PIN-based system could not have prevented all recent data ...

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