Many U.S. shoppers will rely primarily on debit cards to purchase gifts for friends and family this holiday season, according to a new survey by TD Bank.
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Something old, something new: In 2022, check fraud remains a focus of bank risk professionals, while instant P2P payments are an increasingly popular platform for scammers seeking to take advantage of consumers.
The Federal Reserve today finalized a controversial, ABA-opposed rule expanding Regulation II, the implementing regulation for the Durbin Amendment.
Debit and credit card transactions continue to lead the way in payments transactions over digital payments alternatives, according to recent research published by J.D. Power.
At a Senate Judiciary Committee hearing, banking, credit card industry representatives and some lawmakers pushed back against proposals to expand interchange regulation to credit cards, arguing that the existing interchange fee limits imposed by the Durbin amendment more than a decade ago are hurting consumers.
Ahead of a hearing in the Senate Judiciary Committee on credit and debit card interchange fees, ABA joined with a broad coalition of industry groups to communicate to lawmakers the serious flaws of interchange regulations and push back against efforts to expand the Durbin amendment.
In a letter to the Federal Reserve yesterday, a group of six financial trade associations—including the American Bankers Association and the Independent Community Bankers of America—described the ongoing harm that the Durbin Amendment has caused to consumers and community banks and called for its repeal and expressed concerns about the risks from current and potential future proposals to change Regulation II (Durbin’s implementing regulation).
Payment behavior “changed sharply in 2020 with the COVID-19 pandemic,” the Federal Reserve said today in a new research brief.
In response to the COVID-19 pandemic, the number of debit transactions declined 2.5% in 2020, the first dip in the 16-year history of the Pulse debit issuer survey released today.
Amid substantial growth in online purchases in recent years, the Federal Reserve today reopened its rule on the Durbin Amendment.