In 2016, a big-bank consortium said that it would charge the same prices to all institutions, regardless of their size. But now the group has added a large caveat to that pledge.
Randal Quarles, a senior Fed official and chair of the Financial Stability Board, sparked debate with a speech about the risks and rewards of companies like Amazon, Facebook and Apple entering the financial system.
The Clearing House announced moves to attract community banks and credit unions to its real-time payments system. Smaller depositories have generally been reluctant to sign up with what is seen as a large-bank effort.
After more than two years of successful operation in delivering Same-Day ACH payments, Nacha's request to add a third processing window has been denied by the Federal Reserve, which says it has to obtain public comment on the concept.
The slow U.S. adoption of real-time payments hurts half of Americans who live paycheck to paycheck, says Aaron Klein, a fellow at the Brookings Institution.
JPMorgan's blockchain effort could lead to solutions that overcome industry skepticism and regulatory concerns and perhaps attract more mainstream retail interest.
Wide coverage of the mega-deal between BB&T and SunTrust; GSE reform, CFPB underwriting rule are on collision course; Swift showing more swagger in its rivalry with Ripple; and more from this week's most-read stories.
