Fed: No Payments Service Disruptions Expected from Coronavirus
Federal Reserve Financial Services on Thursday issued a statement assuring its customers that it does not anticipate business disruptions as a result of the coronavirus pandemic.
Browsing: Payments
ABA Foundation, FTC Release New Infographic on Money Mule Scams
A new infographic released today by the ABA Foundation and the Federal Trade Commission highlights “money mule” scams—a type of scam in which criminals use their victims to move stolen funds.
TCH Raises RTP Network Transaction Limit to $100,000
The Clearing House today announced an increase in the general transaction value limit for payments made on the Real-Time Payments Network.
ABA Supports Proposed Changes to Remittance Rule
In a joint comment letter with the Clearing House and the Consumer Bankers Association yesterday, the American Bankers Association and its subsidiary BAFT offered support for proposed changes to the Consumer Financial Protection Bureau’s remittance rule.
Endangered Species of Banking
Learn what was said when we asked bankers and bank consultants across the country what they see for the future of banking products, services and marketing approaches that seem to be dying out.
Consumers Give Bank Mobile Apps Top Marks in Morning Consult Survey
Ninety-five percent of respondents in a recent American Bankers Association/Morning Consult survey rated their bank’s online and mobile app experience as “good,” “very good” or “excellent,” and 77% agreed that technological improvements by banks are making it easier for them to access their financial services.
ABA Calls for Interoperability as Fed Moves Ahead with ‘FedNow’ Service
As the Federal Reserve moves ahead with its plan to develop the FedNow real-time payments settlement service, the American Bankers Association noted in a comment letter today that “FedNow can contribute to a better, faster and safer payment system if implemented correctly.”
Credit Card Use Rebounds in Second Quarter
Credit card use rebounded in the second quarter of 2019, after moderating in the first quarter, according to the American Bankers Association’s latest Credit Card Market Monitor released today.
ABA: Fed Must Prioritize Interoperability in Development of FedNow
As the Federal Reserve develops its own faster payments system, it must focus on ensuring interoperability between the existing RTP Network, rthe American Bankers Association said in a statement for the record submitted ahead of a Senate Banking Committee hearing today.
Fed to Offer Its Own Faster Payments Service
In a long-awaited decision, the Federal Reserve today announced it would develop FedNow, its own 24/7/365 real-time settlement service designed to serve all U.S. depository institutions.