A recent report issued by the Government Accountability Office highlights the strategies and techniques used by criminal groups to engage in trafficking and money laundering, as well as efforts by the federal government to combat these illegal activities.
Payment behavior “changed sharply in 2020 with the COVID-19 pandemic,” the Federal Reserve said today in a new research brief.
The CFPB today issued orders to five companies offering buy now, pay later credit seeking information on the risks and benefits of BNPL products.
A report issued by the Government Accountability Office today highlighted the challenges that banks face in providing services to money transmitters and nonprofits that transfer funds to recipients in countries that present a high risk for money laundering or terrorist financing.
As part of its ongoing effort to enhance cross-border payments, the Financial Stability Board is conducting a survey to collect feedback on how existing national and regional data frameworks interact with and affect the functioning, regulation and supervision of cross-border payment arrangements.
Ahead of a House Financial Services Committee hearing on digital assets today—at which the heads of several cryptocurrency firms will testify—the American Bankers Association submitted a statement for the record emphasizing the need for bank-like regulations for companies offering digital assets to consumers.
In a letter to the CFPB today, the American Bankers Association and the Consumer Bankers Association emphasized the need for consistent consumer protection and a level playing field for payments products offered by banks and big tech firms.
Challenging a recent report from the President’s Working Group on Financial Markets, Federal Reserve Governor…
Ninety-nine 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,” matching last year’s record, and 81% agreed that technological improvements by banks are making it easier for all Americans to access their financial services.
With the backing of 11 large international banks, the Clearing House, EBA Clearing and Swift have collaborated in an effort to facilitate real-time cross-border payments.