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August 19, 2020
Federal Reserve Explores Digital Currencies
On Aug. 13, 2020, The Federal Reserve issued a press release highlighting the research and experimentation the central bank system has been conducting to enhance its understanding of digital currencies and their use by central banks. Additionally, as an…
Government Relations News
August 19, 2020
On Aug. 13, 2020, The Federal Reserve issued a press release highlighting the research and experimentation the central bank system has been conducting to enhance its understanding of digital currencies and their use by central banks. Additionally, as an effort to support the Federal Reserve Board’s…
Government Relations Policy Updates
August 19, 2020
The Consumer Financial Protection Bureau (CFPB) recently issued answers for several Frequently Asked Questions regarding compliance with the Payday Lending Rule. This is in addition to the agency’s previously issued resources, including a Small Entity Compliance Guide, to assist with industry…
Government Relations Policy Updates
August 19, 2020
Despite Concerns Over Mail Delivery, Overwhelming Majority of Federal Government Payments Continue to be Made On Time
More than 97% of Recipients of Social Security and Veterans Benefits Rely on Direct Deposit
HERNDON, Va., August 19, 2020 – In recent days, significant concerns have been raised over the delivery of payments from the Social Security Administration and the Veterans Benefits Administration…
ACH, ACH Network, Advocacy, Direct Deposit, Government Relations News
August 4, 2020
SBA Inspector General Reports ‘Widespread’ Fraud in Economic Injury Disaster Loan Program
On July 28, 2020 the Office of the Inspector General for the U.S. Small Business Administration issued a memo reporting findings of "widespread potential fraud" in the agency’s flagship Economic Injury…
Government Relations News
August 4, 2020
On July 28, 2020 the Office of the Inspector General for the U.S. Small Business Administration issued a memo reporting findings of "widespread potential fraud" in the agency’s flagship Economic Injury Disaster Loan (EDIL) program (separate from the Paycheck Protection Program) for coronavirus…
Government Relations Policy Updates
August 4, 2020
The Consumer Financial Protection Bureau (CFPB) has announced that the agency plans to ask for input later this year via an advance notice of proposed rulemaking (ANPR) regarding implementation of Section 1033 of the Dodd-Frank Act, which governs consumers’ access to their financial data.
The…
Government Relations Policy Updates
July 23, 2020
On July 20, 2020 the Federal Deposit Insurance Corporation (FDIC) announced the agency has issued a new Request for Information (RFI) as part of its FDiTech initiative. The RFI is asking for public comment regarding the potential creation of a public-private partnership to set standards and a…
Government Relations News
July 15, 2020
CFPB Issues Final Rule on Small Dollar Loans, Easing Restrictions for Payday Lenders
On July 7, 2020, the Consumer Financial Protection Bureau (CFPB) announced it has issued a final rule regarding “Payday, Vehicle Title, and Certain High-Cost Installment Loans”, eliminating the requirement for…
Government Relations News
July 15, 2020
On July 7, 2020, the Consumer Financial Protection Bureau (CFPB) announced it has issued a final rule regarding “Payday, Vehicle Title, and Certain High-Cost Installment Loans”, eliminating the requirement for loan underwriting and income verification, citing “insufficient legal and evidentiary…
Government Relations Policy Updates