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May 17, 2024

On the web

Expanding the Cross-Boundary E-CNY Pilot in Hong Kong

Hong Kong Monetary Authority

"The Hong Kong Monetary Authority (HKMA) and the People’s Bank of China (PBoC) have made further progress in the e-CNY pilot for cross-boundary payments, to expand the scope of e-CNY pilot in Hong Kong to facilitate the set up and the use of e-CNY wallets by Hong Kong residents, as well as the top-up of e-CNY wallets through the Faster Payment System (FPS)."

On the wires

May 16, 2024

Top Post

Visa Reinvents the Card, Unveils New Products for Digital Age


"At the annual Visa Payments Forum, Visa unveiled new products and services that address the needs of businesses, merchants and consumers and the financial institutions that serve them: Visa Flexible Credential, Tap to Everything, Visa Payment Passkey Service, Pay by Bank, Visa Protect for A2A Payments, and Data Tokens."

On the web

May 15, 2024

On the web

How the U.S. Chamber Halted the CFPB's Credit Card Late Fees Rule

US Chamber

"On May 10, the U.S. Chamber scored a major win for the business community against federal agencies’ micromanagement of business decisions. The Northern District of Texas granted the Chamber's motion for a preliminary injunction and stayed the Consumer Financial Protection Bureau's (CFPB) credit card late fees rule."

On the wires

May 14, 2024

Top Post

On the web

Agencies Announce Public Meeting on Proposed Acquisition by Capital One of Discover; Public Comment Period Extended

Board of Governors of the Federal Reserve System

"The Federal Reserve Board and the Office of the Comptroller of the Currency (OCC) today announced a joint public meeting on the proposal by Capital One Financial Corporation, of McLean, Virginia, to acquire Discover Financial Services, of Riverwoods, Illinois...The purpose of the public meeting is to collect information from a wide range of stakeholders as the agencies evaluate the applications."

Agencies Announce Inflation-Adjusted Dollar Thresholds for Regulation CC Funds Availability

Consumer Financial Protection Bureau

The Consumer Financial Protection Bureau and the Federal Reserve Board jointly adjusted for inflation dollar amounts relating to the availability of customer funds. These changes in Regulation CC include the minimum amount of deposited funds that banks must make available for withdrawal by opening of business on the next day for certain check deposits as well as the amount of funds deposited by certain checks in a new account that are subject to next-day availability.

On the wires

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