CFPB Veteran Tapped to Lead ABA’s Card Policy Council
The American Bankers Association announced today that it has hired Consumer Financial Protection Bureau veteran Dan Smith to serve as executive director of its Card Policy Council.
Browsing: Payments system
ABA’s Kenneally Named to Faster Payments Council Board
The U.S. Faster Payments council—an industry-led coalition dedicated to driving faster payments innovation and adoption—has announced that ABA SVP Steve Kenneally has been elected to a two-year term on its board.
ABA, Groups to CFPB: Continue Allowing for Estimates in Remittance Disclosures
ABA, its transaction banking subsidiary BAFT and other industry trade associations today urged the Consumer Financial Protection Bureau to continue permitting depository institutions to provide estimates of pricing information in remittance transfer disclosures where the exact amounts cannot reasonably be determined.
RTP Network’s Principles Informed by Community Bank Feedback
The Clearing House today released a set of eight “business principles” that will govern the operation of its RTP network, a new real-time core payments system.
Survey: Gen X, Boomers Drive Broader Adoption of P2P
Fifty percent of first-time person-to-person payments users are aged 45 or older, according to survey data released today by Early Warning Services.
J.D. Power: Banks Outperform Nonbanks in Small Biz Merchant Services Satisfaction
In a study evaluating small businesses’ satisfaction with merchant services providers, J.D. Power found that banks outperformed nonbank fintech firms and scale processors.
Wendy’s Reaches Data Breach Settlement with Banks
U.S. fast food chain Wendy’s last week announced a $50 million settlement with financial institutions that suffered losses during a data breach that ran from October 2015 through June 2016.
Five Global Fintech Trends in 2019
Financial innovation is happening worldwide. Here are some of the top developments to watch.
Fed Survey Notes Continued Growth in Noncash Payments
Noncash payments in the U.S. continued to see strong growth in the period between 2016 and 2017, according to an annual supplement to the Federal Reserve’s triennial payments study released today.
ABA Offers Feedback on Federal Reserve Faster Settlement Proposal
In a comment letter to the Federal Reserve today, ABA offered feedback on potential Fed actions to accelerate interbank settlement of faster payments, including the idea of the Fed banks developing a 24/7/365 real-time settlement service and a liquidity management tool to support this service.