Banking for Z next generation
Banks gain trust when they deliver financial data directly into the hands of consumers.
Banks gain trust when they deliver financial data directly into the hands of consumers.
As part of its implementation of the Anti-Money Laundering Act of 2020, the Financial Crimes Enforcement Network on Friday sought public feedback on a new process for issuing no-action letters.
Most customers are dissatisfied with their credit card mobile apps and online options, according to recent studies by J.D. Power. Overall satisfaction with most digital channels has declined as usage has increased.
Amid the growing ownership of digital assets like cryptocurrencies, the American Bankers Association and the Securities Industry and Financial Markets Association on Friday asked the Securities and Exchange Commission to provide key clarifications and delay the effective date of its staff accounting bulletin on crypto assets.
According to ABA, at present, a U.S. CBDC doesn’t solve a specific financial problem or respond to a pressing economic need.
In an environment of hiring challenges, cost inflation, supply chain woes and post-pandemic recovery, small business owners are busier than ever. “Sometimes small business owners don’t even have time to spend with their families,” says KeyBank SVP Kristyn Squires. “So when we spend time with them, it needs to be compelling.”
The CFPB today announced that it will open a new Office of Competition and Innovation. This new office will replace the bureau’s existing Office of Innovation, which was established in 2018 and focused on allowing companies to apply for no-action letters and regulatory sandboxes in order to test specific innovative product offerings.
Nearly 8 in 10 U.S. households surveyed in late 2021 said they were “doing OK” or “living comfortably,” according to the Federal Reserve’s annual Report on the Economic Well-Being of U.S. Households released today.
In a special bonus episode of the ABA Banking Journal Podcast, ABA’s Rob Morgan digs into the association’s comments on the Federal Reserve’s discussion paper on central bank digital currencies.
The creation of a central bank digital currency “should only be pursued as a final option to meet clearly defined public policy goals that cannot be achieved through payments innovations that leverage existing digital dollars,” the American Bankers Association told the Federal Reserve in a comment letter.