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.
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 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.
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.
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.
As the Federal Reserve weighs whether to develop a real-time payments option, an American Banker op-ed today noted that community banks cannot afford to wait on a Fed solution to offer this technology to their customers.
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.
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.
By Tyler Mondres
Chris Nichols and Marci Knight