Payments

FSR advocates on behalf of members that provide and use payment products and services to promote fair competition, innovation and a vibrant payments industry.  Advocacy efforts focus on identifying trends, opportunities and challenges in a dynamic payments ecosystem, and addressing regulatory and compliance issues.

 

US fights losing battle for bitcoin riches

November 20, 2013

Paul Smocer, president at BITS, the technology policy division of industry body The Financial Services Roundtable, said that digital currencies appeal to merchants and customers due to lower transaction costs. Their ability to facilitate simpler international funds transfers would also mean companies would see an increase in international sales opportunities, he said at Tuesday’s hearing.

FSR Testifies on Bitcoin & Digital Currency

November 19, 2013

The increased use of bitcoin and digital currency is providing opportunities to explore, but the risks currently outweigh the benefits, according to Paul Smocer, President of BITS, who testified before the Senate Banking Subcommittees on National Security and International Trade and Finance.


FSR Testifies on Bitcoin for Senate Banking Committee

November 19, 2013

The increased use of bitcoin and digital currency is providing opportunities to explore, but the risks currently outweigh the benefits, according to Paul Smocer, President of BITS, who testified before the Senate Banking Subcommittee on National Security and International Trade and Finance.

Testimony, Senate Banking Digital Currency Hearing

November 19, 2013

BITS President Paul Smocer testified in front of the U.S. Senate Banking Committee on Nov. 19, 2013, on digital currency and its implications. Read a copy of his submitted written testimony here.


Regulators Looking to Tame Bitcoin World

November 15, 2013

The top banking regulator in New York is accelerating his hunt for bitcoin bad guys, announcing that he will hold hearings that could help determine whether virtual currency companies will need to apply for a special “bitlicense” to operate in the state.

Regulators Looking to Tame Unruly Bitcoin World

November 14, 2013

On Tuesday, Ms. Shasky will testify again before the Senate Banking Committee beside an official from the trade group Financial Services Roundtable, Massachusetts’ state commissioner of banks, BitPay Inc. CEO Anthony Gallippi, and other witnesses.


Fed’s Yellen seen winning Senate approval after vigorous debate

October 9, 2013

Tim Pawlenty, a former Republican Governor of Minnesota who sought his party’s nomination for president in 2011, said she was “a talented economist who will bring a wealth of experience to the job,” in a statement on behalf of the Financial Services Roundtable, of which he is president and chief executive.


Response to Proposed Consumer Survey on Arbitration Provisions, 08-06-13

August 6, 2013

Financial Services Roundtable appreciates the opportunity to comment on the request by the Consumer Financial Protection Bureau (the “Bureau”) for information concerning a proposed survey of “consumer awareness of dispute resolution provisions in their agreements with credit card providers,” and “[w]ays to enhance the quality, utility, and clarity of the information to be collected” in the course of the survey.

FFIEC may be prepping guidance for mobile banking

July 26, 2013

In June 2013, BITS, the technology policy arm of Washington, DC-based The Financial Services Roundtable, released a layered security model for mobile banking. BITS says the model provides insight for banks on how to manage the risks facing their mobile banking platforms.