FBI: Crypto-related fraud losses increased 45% in 2023
Cryptocurrency-related fraud resulted in more than $5.6 billion in losses in 2023, representing a 45% increase from the previous year,...
Payments
Transportation Department launches inquiry into airline rewards programs
The U.S. Department of Transportation launched an inquiry into the four largest U.S. airlines’ rewards programs, with the goal of...
ABA suggests splitting proposal to expand Fedwire, NSS operating hours
ABA said it supports a proposal to expand the operating hours of the Fedwire Funds Service but had concerns about...
Basel Committee: Permissionless blockchains pose ‘novel’ risk challenges for banks
Banks that engage in digital asset transactions face risks that may require new approaches to risk management, according to a...
Fed’s Waller: FedNow grows to nearly 1,000 institutions
Nearly 1,000 depository institutions are using FedNow roughly a year after its implementation, Federal Reserve Governor Christopher Waller said.
ABA, associations: Electronic transfer fraud reimbursement bill would harm financial inclusion
ABA and three associations said they opposed legislation to require financial institutions to reimburse customers for electronic fund transfers that...
CFPB ignores bank access data in swipe at industry
Despite public data showing that nearly 96% of Americans live within a few miles of a bank or credit union...
Atlanta Fed’s Bostic challenges fintech firms to think broadly about payments inclusion
Often payments technology is targeted at a narrow customer base when that tech could potentially help a much broader swath...
Survey: Mobile banking most popular option among consumers
Three out of four respondents in a recent consumer banking survey by MarketWatch said they prefer to bank digitally, either...
Survey: Cashback, value credit cards grow in popularity
A majority of credit card holders are using cashback cards while a growing number of consumers are switching to value...
