Faster payments

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.

[more]

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.

[more]

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."

[more]

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.

[more]

Why we’re joining the big banks’ payments system

07/31/19

Community banks shouldn’t wait for the Fed to create a new real-time payments rail when consumers are already flocking to other options.

[more]

Crypto holds public promise and potential for danger: Senators

07/30/19

Two weeks after lawmakers grilled a Facebook exec over Libra, they acknowledged benefits from digital currency technology while warning of the risks.

[more]

Truist clears hurdle, new Santander CEO, fintechs' retirement fix: Top stories of the week

07/26/19

House lawmakers go light on BB&T-SunTrust merger; Santander Bank names longtime MUFG Union executive its CEO; the fintechs trying to solve America's retirement problem; and more from this week's most-read stories.

[more]

'Stop sugar coating the reverse mortgage': Comments of the Week

07/25/19

Readers react to BofA defending reverse mortgage borrowers, support the Federal Reserve creating a real-time payments system, advocate for consolidating federal bank agencies and more.

[more]

What the big banks left out when they slammed Fed over real-time payments

07/24/19

The CEO of a big-bank lobbying group recently said that the central bank may be on the verge of pulling a bait and switch on faster payments. But his comments glossed over a lot of the relevant history.

[more]

Fed must remain lead player in real-time payments

07/24/19

If the Federal Reserve doesn't maintain an active role, Wall Street megabanks could take over the payments system.

[more]