Faster payments

Fed names leader for development of real-time payment system

08/15/19

Kenneth Montgomery, a top executive at the Federal Reserve Bank of Boston, will head the push to make faster payments available across the industry in the next four to five years.

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Digit savings app drops fee for instant overdraft protection

08/13/19

The San Francisco-based fintech is using JPMorgan Chase’s real-time payments service to power the updated overdraft prevention tool.

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6 banking questions for the next Democratic debate

08/11/19

From housing finance to Facebook’s crypto plans, moderators questioning the presidential candidates in Texas next month would have no shortage of financial policy topics from which to pick.

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'The whole situation is frustrating': Comments of the week

08/08/19

Readers react to the Fed's lengthy plan for a real-time payments system and Fifth Third's minimum wage increase, jab at Sen. Warren's absence on the Senate Banking Committee and more.

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Is Fed vote on real-time payments a sign of a wider split?

08/07/19

Vice Chairman Randal Quarles’ public dissent raises questions about how the board will proceed on other policy debates.

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The Fed's real-time payments system; Sen. Wyden wants answers from Amazon

08/06/19

The payments system, called FedNow, would go head-to-head against one built by big banks; the senator from Oregon wants Amazon to address vulnerabilities in its cloud data storage.

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And now, the hard part of the Fed’s path to real-time payments

08/05/19

Addressing payment security and achieving interoperability with a rival, private-sector network are just some of the challenges the central bank faces in building a government-backed real-time payment system.

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Fed plans to launch real-time payment service by 2024

08/05/19

As part of its justification for developing its own government-backed system, the central bank said that leaving only a single fast network run by big banks constitutes a potential risk to the economy.

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Flint out at HSBC; Bair: Keep Congress out of CECL

08/05/19

The CEO's tenure lasted just 18 months; the former FDIC chair says having Congress more involved in setting accounting standards "could well backfire on the banks."

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Powell hints Fed will take bigger role in real-time payments

07/31/19

“It wouldn't be unusual” for the Federal Reserve to work alongside private-sector operators in the creation of a U.S. real-time payments system, its chairman said.

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