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MCUA Submits Comments on FRB's Reg CC Proposal

May
05
MCUA Submits Comments on FRB's Reg CC Proposal

The Missouri Credit Union Association (MCUA) submitted a comment letter on May 2, 2014, on the Federal Reserve Board’s (Board) Regulation CC proposed rule. MCUA generally supports efforts to improve the check clearing process and to account for the shift toward full

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MCUA Comments to Federal Reserve on Payment System Risk Policy and Related Reg J Changes

Feb
18
MCUA Comments to Federal Reserve on Payment System Risk Policy and Related Reg J Changes

The Missouri Credit Union Association (MCUA) recently submitted comment letters (to the Federal Reserve Board (Fed) on the Payment System Risk (PSR) Policy and related

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MCUA Comments to Federal Reserve Banks on Payment System Improvements

Jan
07
MCUA Comments to Federal Reserve Banks on Payment System Improvements

Missouri Credit Union Association (MCUA) recently submitted a comment letter to the Federal Reserve Banks on their “Payment System Improvement – Public Consultation Paper,” commending the approach taken by the Fed Banks and engagement with stakeholders to look into ways to improve the U.S. payment system. 

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Federal Reserve Bank Paper on Prepaid Cards and Money Laundering Risks

Feb
11
Federal Reserve Bank Paper on Prepaid Cards and Money Laundering Risks

The Federal Reserve Bank of Atlanta’s Retail Payments Risk Forum recently released a paper on general purpose reloadable (GPR) prepaid cards and money laundering risks.

Posted By Sharon Bahr read more

Federal Reserve Reviewing Liquidity Sources at Largest Banks

Dec
17
Federal Reserve Reviewing Liquidity Sources at Largest Banks

The Federal Reserve Board (Fed) is examining liquidity sources at some of the largest U.S.

Posted By Sharon Bahr read more

Bank Secrecy Act "Funds Transfers" Definition Proposed Rule

Dec
03
Bank Secrecy Act "Funds Transfers" Definition Proposed Rule

The Financial Crimes Enforcement Network (FinCEN) and the Federal Reserve Board have proposed amendments to the regulatory definitions of “funds transfer” and “transmittal of funds” under the Bank Secrecy Act (BSA) regulations.

Posted By Sharon Bahr read more

Reserve Requirements and Federal Reserve Update

Nov
07
Reserve Requirements and Federal Reserve Update

The Federal Reserve Board (Board) has delayed the implementation of the second phase of its program to simplify reserve requirement administration until June 27, 2013.  The delay aims to provide further development and testing of automated systems to ensure a smooth transition for affected depository institutions.

Posted By Sharon Bahr read more

CUNA & Financial Trade Groups Meet with FRB on Debit Interchange

Oct
29
CUNA & Financial Trade Groups Meet with FRB on Debit Interchange

On October 24, 2012, representatives from the Credit Union National Association (CUNA) and other financial trade associations met with Louise Roseman, Director of the Reserve Bank Operations and Payments Systems Division at the Federal Reserve Board (Board), to advocate that the debit interchange fee caps should include certain additional costs incurred by issuers, as detailed in a

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Federal Reserve Reports on Mobile Payments Regulatory Landscape

Aug
10
Federal Reserve Reports on Mobile Payments Regulatory Landscape

In late July, the Federal Reserve Banks of Atlanta and Boston published a summary report on the mobile payments regulatory landscape.  The report covered the opportunities, challenges, and regulatory coverage of mobile payments.

Posted By abucaida@mcua.org read more

CFPB Re-opening Comment Period on Proposed Ability to Repay Mortgage Rule

Jun
07
CFPB Re-opening Comment Period on Proposed Ability to Repay Mortgage Rule

The CFPB is reopening the comment period for the proposed ability-to-repay rule which was issued by the Federal Reserve Board (FRB) on May 11, 2011.

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