Payments

Letters and Testimonies

Letters to Congress

Title Recipient Date
Joint Trades Letter Opposing Credit Card Price Control Bill Sen. Josh Hawley 09/20/23
Letter on CBDC Bills Ahead of House Markup House Financial Services Committee 09/19/23
ICBA Letter on House Stablecoin Legislation Ahead of Markup House Financial Services Committee 07/19/23
Joint Financial Sector Letter Opposing Credit Card Routing Bill House, Senate Leaders 07/14/23
State Association Joint Letter Opposing Credit Card Competition Act House, Senate 07/11/23
ICBA Letter on Revised House Stablecoin Draft Bill House Financial Services Committee 06/13/23
Joint Letter Opposing Reintroduction of Credit Card Competition Act Senate, House leaders 06/09/23
Letter on Revised Stablecoin Draft Legislation House Financial Services Committee 05/05/23
Letter Offering Community Bank Perspective on Stablecoin Legislation House Financial Services Committee 04/19/23
Support for House Central Bank Digital Currency Anti-Surveillance State Act Rep. Tom Emmer 03/08/23
Letter on ICBA Lame Duck Agenda Senate, House 11/17/22
State Letter Opposing Credit Card Competition Act House, Senate 10/11/22
Joint Letter Opposing Marshall-Durbin NDAA Amendments Senate 10/04/22
Joint Letter on Credit Card Competition Act House 09/27/22
Letter Opposing House Interchange Bill House 09/21/22
ICBA Letter Opposing Credit Card Competition Act Senate 08/31/22
Letter on Stablecoin Legislation House Financial Services Committee 07/22/22
Joint State Trades Letter to the Senate Judiciary Committe Interchange Hearing Senate Judiciary Committee 05/04/22
Joint Letter for Senate Interchange Hearing Senate Judiciary Committee 05/02/22
Support for Senate CBDC, FedAccount Bill Sens. Cruz, Braun, Grassley 04/04/22
Support for House CBDC, FedAccount Bill Rep. Tom Emmer 04/04/22
Joint Trades Credit Interchange Cap Letter Congress 07/27/21
Hill Payments Charter Letter 116th Congress 10/15/20
Hill Payments Charter Letter 9.29 U.S. House Task Force on Financial Technology 09/29/20

Letters to Regulators

Title Recipient Date
Comments on Basel Cryptoasset Standard Amendments Basel Committee on Banking Supervision 03/28/24
Freedom of Information Act Request on CBDC Authority Federal Reserve, Justice Department, Treasury Department 03/22/24
Joint Trade Statement on ISO 20022 Standards BIS Committee on Payments and Market Infrastructures 02/28/24
Disclosure of Cryptoasset Exposures Letter to Regulators 01/30/24
ICBA Comment Letter for FinCEN Cryptocurrency Mixer Proposal FinCEN 01/23/24
Joint Extension Request on Fed Debit Card Interchange Price Cap Federal Reserve 11/27/23
Comments on Proposed Tax Treatment of Digital Assets IRS 11/13/23
Joint Trades Letter on Reg II Board Meeting Federal Reserve 10/20/23
Response to IOSCO DeFi Policy Recommendations IOSCO 10/18/23
Joint Letter on Mortgage Rates White House, Treasury Department 10/12/23

Testimony

Title Committee Presenter Date
Statement for House Hearing on Central Bank Digital Currency Risks House Subcommittee on Digital Assets, Financial Technology and Inclusion Written Statement 09/13/23
Effective Regulation of Crypto Assets Senate Banking Committee Written Statement 02/13/23
Statement for Senate Crypto Hearing Senate Banking Committee Written Statement 07/28/22
Hearing Statement on Central Bank Digital Currency House Financial Services Committee Written statement 05/25/22
Enhanced Regulation of Digital Assets Will Promote Responsible Innovation Senate Banking Hearing 02/15/22
Statement for House Hearing on Stablecoins House Financial Services Committee Written statement 02/08/22
Statement for Senate Stablecoin Hearing Senate Banking Committee Written Statement 12/14/21
Statement for House Hearing on Digital Assets House Financial Services Committee Written statement 12/07/21
ICBA Statement for HFSC Fintech Hearing 9-29-2020 HSFC 09/29/20

Payments News

ACH Network volume rises 6.1% in Q4

Jan. 21, 2022

ACH Network volume increased 6.1% in the fourth quarter of 2021 from a year earlier, Nacha reported.

Details:

  • There were 7.5 billion ACH payments during the quarter, 426 million more than the same time in 2020.

  • The value of those payments, $18.9 trillion, rose 13.4%.

  • Health care claim payments recorded a 13.4% rise with 112.2 million payments.

  • B2B payments increased by 17.4%.

  • Direct Deposit volume declined 1.4% as stimulus payments and expanded unemployment benefits expired.

  • Same Day ACH volume and value rose 75.1% and 92.9%, respectively, with 169.3 million payments in the fourth quarter valued at $268.4 billion.

Next: Nacha last year approved an increase of the Same Day ACH dollar threshold from $100,000 to $1 million, effective March 18, 2022.

More: An ICBA blog post provides a breakdown of real-time and faster payments options, including FedNow, RTP, and Same Day ACH.