Fed to Remove Caps on Coin Distribution
The Federal Reserve has announced that it will return to regular coin distribution for all coin denominations beginning on Jan. 15.
Browsing: Payments
IRS: ‘Get My Payment’ Portal Now Live
The Internal Revenue Service today announced that the Get My Payments portal—available in English and Spanish—is now live for individuals to log on and view the status of their economic impact payment.
Fed to Hold Most Payments Services Fees Steady for 2021
The Federal Reserve announced today that it will maintain its current fee schedules for priced services for most payments services in 2021, except for check fees, which will rise 2.7% on average.
BAFT Launches Global Payments Industry Council
BAFT, ABA’s global transaction banking subsidiary, announced today it has launched a Global Payments Industry Council to drive strategy on global payments issues and to develop best practices for real-time payments participants.
ABA Opposes OCC’s Proposed Payments Charters
The American Bankers Association today said it has “serious concerns” about the OCC’s intention to issue a payments charter that would allow non-depository institutions to access the payments system.
Fed Amends Implementation Date for Changes to Facilitate Same-Day ACH
The Federal Reserve today said it would change the implementation date for modifications to the Federal Reserve Banks’ payment services to facilitate adoption of a third same-day ACH processing and settlement window and for corresponding changes to the Fed’s Policy on Payment System Risk.
Coin Task Force Publishes New Resources to Address Coin Circulation Issues
With the COVID-19 pandemic disrupting the circulation of coins nationwide, the U.S. Coin Task Force—of which the American Bankers Association is a member—has published new resources for retailers, financial institutions and armored carriers to use to help encourage circulation.
ABA: FedNow Should Be ‘Bank-Centric,’ Interoperable
In a letter today, American Bankers Association offered several recommendations for the Federal Reserve to consider as it continues to develop its FedNow service.
TCH: RTP Network Reaches More than Half of DDAs in the US
The Clearing House announced today that financial institutions holding 70% of demand deposit accounts now have access to real-time payments capabilities through their technology providers that have connected to the RTP Network.
CFPB Chief of Staff Tapped to Lead ABA’s Card Policy Council
ABA announced today that the Consumer Financial Protection Bureau’s Kirsten Sutton has been selected to serve as executive director of its Card Policy Council, the leading voice on legislative, regulatory and communications issues facing credit card issuers and payment card networks.