ABA offers recommendations for mitigating risk in proposed ‘skinny’ accounts
By ABA Banking Journal Staff
AI Summary
ABA recommends careful design and robust risk mitigants for 'skinny' accounts; these payment accounts should uphold the integrity of the payments system and protect public interest.
Texas Relevance
The article does not explicitly mention Texas, TX, TCUD, or any Texas-specific entities. It discusses a nationwide proposal applicable to all credit unions.
Original Content
A proposal to create “payment accounts” to provide basic Federal Reserve payment services requires “careful design and robust risk mitigants” to uphold the integrity of the payments system and protect the public interest, ABA said. The post ABA offers recommendations for mitigating risk in proposed ‘skinny’ accounts appeared first on ABA Banking Journal .