Latest American Bankers Association (ABA) News: Finextra Research

Citi suit prompts dispute between CFPB and industry groups

A legal case involving how Citi responded to customers who had money stolen via wire transfers has caused a spat between the CFPB and industry associations over the scope of the Electronic Fund Transfer Act (EFTA).

03 June 2024

/crypto

ABA calls on lawmakers to regulate stablecoin issuers like banks

The American Bankers Association (ABA) has urged lawmakers to regulate stablecoin issuers like banks, arguing that two bills on the subject, up for debate this week, "fall short".

18 May 2023

/payments

ABA backs Fed's plan for single-day Fedwire ISO 20022 migration in 2023

The American Bankers Association is supporting the Federal Reserve's plan to migrate the Fedwire Funds Services to the ISO 20022 message standard in a single day - but says it has "serious concerns" about a lack of detail on testing strategy and requirements for the move.

07 January 2022

/crypto

American banking lobby hits out at CBDC hype

The American Bankers Association has adopted a defensive stance over the possible future issuance of a central bank backed digital currency (CBDC), warning lawmakers about real-world trade-offs that could significantly reshape the banking system.

09 June 2021

/payments

Industry players welcome FedNow faster payments plan

The American Bankers Association and credit union groups are among those offering their support for the Federal Reserve Board's plans to build a new round-the-clock real-time payment and settlement service.

11 November 2019

/retail

Rakuten to apply for US banking charter

The American Bankers Association has hit out at plans by Japanese e-commerce giant Rakuten to apply for a banking charter in the US.

29 July 2019

/retail

Finxact raises $30 million to redefine the core banking market

The American Bankers Association (ABA), Accenture Ventures, and SunTrust Bank have joined in a $30 million financing round for SaaS-based core banking startup Finxact.

25 January 2019

/retail

Retail security bashing lobby group ABA admits data breach

The American Bankers Association, the lobby group that has taken a leading role in lambasting retailers over lax data security, has admitted that email addresses and passwords used to make purchases or register for events through its online shopping cart have been compromised.

02 October 2015

/retail

US mobile cheque deposit takeup stutters

Despite the prevalence of cheques in the US, the vast majority of people still do not deposit them using their mobile phones, research from the American Bankers Association shows.

26 August 2015

/retail

Mobile up, branches down in American popularity stakes

While the internet continues to be America's most popular banking channel, mobile is fast catching up on more established rivals branch and ATM for the silver medal, according to an ABA survey.

12 August 2015

/retail

US banks bid to crack down on 'card cracking'

US banks and law enforcement agencies are calling on consumers to be alert to an emerging scam, dubbed 'card cracking, which has so far cost the industry $11.6 million in stolen funds.

18 May 2015

/retail

Symantec called in to verify .bank domain applicants

Symantec has been chosen by fTLD Registry Services to verify firms looking to get their hands on the new .bank and .insurance generic top-level domains.

09 December 2014

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