Welcome to Innovating Payments Top 3 News Headlines for the Week of June 22, 2026.
First, federal agencies are tightening the reins on stablecoin issuers with a new proposal that outlines requirements for a customer identification program. Comments are due on August 21.
In addition, new guidance from FinCEN encourages greater information sharing amongst and between financial institutions to support fraud mitigation efforts. The fact sheet they issued offers examples of what can be shared, including video surveillance footage, cyber-related data such as IP addresses, and key fraud indicators.
In executive leadership news, Fiserv's CEO Mike Lyons will join Truist as president and CEO on September 1. For its part, Fiserv announced Takis Georgakopoulos as its new CEO (read the Fiserv press release.)
Read on for more.
1. Federal Agencies Propose Identity Verification Rule for Stablecoin Issuers (PYMNTS)
Five federal agencies are seeking public comment on a proposal to require certain payment stablecoin issuers to maintain a customer identification program.
"The proposal would introduce requirements for these stablecoin issuers that are comparable to customer identification program requirements for banks and credit unions," the Federal Reserve Board said in a Thursday (June 18) press release.
The joint proposed rule was issued by the Fed, the Financial Crimes Enforcement Network (FinCEN), the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC) and the National Credit Union Administration (NCUA).
FinCEN also shared a link to a Notice of Proposed Rulemaking in a Thursday press release. (Read more.)
2. FinCEN Expands Guidance on Fraud Information Sharing Among Financial Institutions (CU Times)
The Financial Crimes Enforcement Network (FinCEN) has issued updated guidance clarifying how financial institutions can share information about suspected fraud under Section 314(b) of the USA PATRIOT Act, a move officials said is intended to strengthen efforts to combat financial crime.
The guidance makes clear that financial institutions may share information related to suspected fraud, money laundering, terrorist financing and other specified unlawful activities with any other institution eligible to participate in the Section 314(b) program. Treasury said the clarification is designed to help institutions identify and disrupt illicit activity more quickly. (Read more.)
3. Truist taps Fiserv chief Lyons as next CEO (Banking Dive)
Truist has hired Fiserv's chief executive, Mike Lyons, to be its next president and CEO, succeeding Bill Rogers.
Lyons, 55, starts as Truist's CEO Sept. 1, the bank said in a news release. Rogers, who has been the Charlotte, North Carolina-based bank's CEO since September 2021, will become executive chair on that date. Rogers is set to remain in that role until his retirement in April 2027. (Read more.)
With movement toward digital assets and growing market shifts, the payments industry remains ripe with change. Navigating what's next means relying on expert support you can trust.
The NEACH team is here for you. Join us for the Future of Payments Symposium, taking place November 2-3, in Newport, R.I., to arm yourself with what's now and what's next. In the meantime, visit us online at Innovating Payments.
NEACH - New England Automated Clearing House Association is a neutral, member-focused advocate. Our role is to give you the intelligence, context, and connections you need to make informed strategic decisions. We bring together industry leaders, policymakers, and innovators so you can evaluate innovation through the lens of your institution’s mission and market strategy. For more information, visit neach.org.
 |
... |
AUTHOR: Joe Casali, AAP, NCP
Executive Vice President
As the EVP of Payments Innovation for NEACH, Joe focuses on exploring innovative solutions and technologies that will help position members for success, both now and in the future. Connect with Joe to read more of his blogs, articles, and posts.
|
#IndustryNews