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Besides providing a safe, sanitary no-touch payment option for consumers, there are other advantages to contactless payments, such as line-busting, says Todd Barstow, vice president of payment solutions for GK Software USA.

Deal activity, already on pace for its slowest year in more than two decades, will likely remain suppressed until bankers get a handle on credit exposure and more clarity on valuations.

The Financial Crimes Enforcement Network is seeking to create a better-defined standard for effective AML compliance programs and is considering whether to impose formal requirements that banks assess their laundering risk.

With only a fraction of the funds allocated being used, Federal Reserve Chair Jerome Powell said the central bank is considering tweaks to the middle-market rescue program in an appeal to lenders wary of taking on added risk.

The new unit plans to connect the startups it backs, such as the global payments network Veem, with experts at the company who can provide business advice.

Fannie Mae and Freddie Mac have been slammed for planning an additional refinancing charge to cover COVID-related losses, but the head of the Federal Housing Finance Agency defended the policy in House testimony.

The fintech, which spent most of the last decade touting various alternative ACH-powered faster payments approaches, is adding the more mainstream option of debit push payments in its latest iteration.

Immediate will use Visa Direct to provide real-time access for employees to collect earned, but not yet paid wages before scheduled payday.

The central bank said it would keep interest rates at current levels through at least to help the U.S. economy recover from the coronavirus pandemic.

The pandemic has upended many business tasks, creating a rush among processors to expand the digital experience without complicating it.