The Payments Association

FEBRUARY 10, 2025

The primary focus on monitoring master accounts leaves an oversight gap that can be exploited for illicit financial activities. Since vIBANs are often treated as extensions of master accounts rather than independent relationships, firms fail to apply appropriate risk assessment frameworks.

IBAN 88

IBAN AML Master Account Due Diligence 88

PYMNTS

JUNE 1, 2020

government of trillions of dollars in stimulus payments — across direct deposits and paper checks — has brought those inefficiencies to light, he said. And there have certainly been laggards when examining whether certain transaction types have caught up to the digital age. The recent payouts by the U.S.

Cross-Border 69

Cross-Border Payments Privacy Issuers 69

PYMNTS

DECEMBER 7, 2020

The bill text mandates that it will be unlawful for people "to provide any stablecoin-related service, or otherwise engage in any stablecoin-related commercial activity, including activity involving stablecoins issued by other persons," without the appropriate approval from the government. Casting a Wide Net .

Stablecoins 76

Stablecoins Regulations Federal Reserve Fed 76

The Payments Association

MARCH 18, 2025

Senator Lee has been among the most vocal opponents of a US CBDC, expressing concerns about potential government overreach. One notable change is the removal of “reputational risk” as a consideration when evaluating applications for master accounts.

Federal Reserve 88

Federal Reserve Stablecoins Fed Settlement 88

The Payments Association

JANUARY 31, 2025

’ against digital asset companies (see below, Other Key Developments in Crypto ) and the FRBs refusal to permit Custodia Bank to open a master account. Fact Sheet ) The Working Group will be chaired by David Sacks, the special advisor for AI and Crypto. Notably, US banking regulators (e.g.,

Stablecoins 88

Stablecoins Office of the Comptroller of the Currency Treasury FDIC 88