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Fed proposes changes to interchange regs
Fed proposes changes to interchange regs The Federal Reserve Board invited public comment on proposed changes to Regulation II (Debit Card Interchange Fees and Routing). The Federal Reserve Board...
Fed proposes standards for accessing Fed accounts, payments system
Fed proposes standards for accessing Fed accounts, payments system The Federal Reserve Board proposed guidelines for evaluating requests for accounts with the Fed and access to the payments system,...
Same Day ACH volume increased 88%, passes 1 billion mark
Same Day ACH volume increased 88%, passes 1 billion mark ACH Network volume soared in the first quarter—increasing by 11.2 percent to 7.1 billion payments in compared to the first quarter of 2020...
Powell talks economy, digital currencies
Powell talks economy, digital currencies Federal Reserve Chairman Jerome Powell said the economy is at an “inflection point” and could experience rapid growth upwards of 6 percent or 7 percent this...
Bill would require Fed study on CBDC
Bill would require Fed study on CBDC Reps. Bill Foster (D-Ill.) and French Hill (R-Ark.) recently introduced legislation directing the Federal Reserve to work with other agencies to study and issue...
Large payments companies move to single exam
Large payments companies move to single exam The Conference of State Bank Supervisors said 13 nationwide payments firms have undergone or are undergoing their single comprehensive exams during the...
New Same Day ACH window in effect this month
New Same Day ACH window in effect this month Nacha's new rule allowing Same Day ACH transactions to be submitted to the ACH Network for an additional two hours every business day takes effect on at...
ICBA seeks more gradual increase of same-day ACH limits
ICBA seeks more gradual increase of same-day ACH limits ICBA said it supports Nacha's plan to raise the individual same-day ACH transaction limit from $100,000 to $1 million in 2022. However, ICBA...
IRS: 13M EIPs going to temporary tax-prep accounts
IRS: 13M EIPs going to temporary tax-prep accounts The IRS said roughly 13 million second-round Economic Impact Payments went to temporary accounts used by the tax-preparation industry. Those...
FinCEN proposes virtual currency recordkeeping rules
FinCEN proposes virtual currency recordkeeping rules The Financial Crimes Enforcement Network issued a proposed rule to increase transparency of certain transactions involving convertible virtual...
Payments continue going digital: BIS
Payments continue going digital: BIS The Bank for International Settlements reported sizable growth in digital payments across many leading economies prior to the coronavirus pandemic. The Bank for...
ICBA urges Congress to join debate over payments charter
ICBA urges Congress to join debate over payments charter ICBA and other groups this week urged Congress to get involved in the OCC's efforts to grant commercial companies like Amazon or Facebook a...
Preserving the Integrity of the Bank Charter: The Community Bank Perspective
Preserving the Integrity of the Bank Charter: The Community Bank Perspective Community banks welcome technological innovation, but we must also recognize that technological change underscores the...
ICBA to Fed: Speed Up FedNow Launch
ICBA to Fed: Speed Up FedNow Launch The Independent Community Bankers of America today called on the Federal Reserve to accelerate implementation of its FedNow real-time payments service....
ICBA Bancard Launches Digital Payments Strategy Guide
ICBA Bancard Launches Digital Payments Strategy Guide ICBA Bancard, the payments services subsidiary of ICBA, announced the launch of its interactive tool to help its community bank clients create...
Fed announces details of real-time payments service
Fed announces details of real-time payments service The Federal Reserve Board released details of its forthcoming FedNow real-time payments service, which it is seeking to launch in 2023 or 2024....
ICBA opposes OCC talk of narrow-purpose payments charter
ICBA opposes OCC talk of narrow-purpose payments charter ICBA and other groups expressed opposition to the OCC's recent discussions to offer a narrowly focused payments charter. ICBA and other...
ICBA Bancard Names Octavia Washington AVP, Operations Analyst
ICBA Bancard Names Octavia Washington AVP, Operations Analyst ICBA Bancard, the payments subsidiary of the Independent Community Bankers of America, today announced that Octavia Washington has...
ICBA FAQs detail Economic Impact Payments
ICBA FAQs detail Economic Impact Payments ICBA updated its frequently asked questions on the federal response to the COVID-19 pandemic with information on Economic Impact Payments—the federal...
ICBA Bancard Celebrates 35 Years of Service to Community Banks
ICBA Bancard Celebrates 35 Years of Service to Community Banks ICBA Bancard, the payments subsidiary of the Independent Community Bankers of America, is celebrating its 35th anniversary during the...