A total of 130 million Americans received economic impact payments totaling more than $200 billion within the first four weeks of the program, according to updated data released by the IRS today.
In a letter to NACHA last week, ABA offered support for several proposed changes aimed at improving and simplifying the ACH user experience while maintaining system efficiency.
As the Treasury Department prepares to issue paper checks to economic impact payment recipients, the U.S. Secret Service released a notice for consumers, retailers and financial institutions with tips for identifying a legitimate, government-issued check.
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.
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.
The Clearing House today announced an increase in the general transaction value limit for payments made on the Real-Time Payments Network.
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.
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.
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.”