Faster payments

Federal Reserve taps Boston Fed COO to head payments task force


In the new role, Kenneth Montgomery will lead the Fed’s efforts to reduce fraud risk and improve the security and resiliency of the U.S. payments system


The real-world impact of real-time payments


As the banking industry moves closer to adopting a faster payments system, bank executives have begun to think through the impact it will have on clients and banks themselves.


R3 to take on Ripple with cross-border payments blockchain


The bank consortium is going directly after the business of its former partner Ripple in the middle of their legal battle over an option for digital currency worth $1 billion.


Fed's Powell gives boost to banks in real-time payments race


The Federal Reserve Board governor sketched out a future in which U.S. banks remain at the center of commercial transactions.


Justice Department gives big banks green light on real-time payments


Following an antitrust review that lasted almost a year, the approval would appear to cement The Clearing House's status as the front-runner in a race to modernize the U.S. payments system.


Wooing millennials or ignoring them?


Fifth Third's Melissa Stevens targets millennials with new app. Meanwhile, regulators are accused of ignoring millennials. Plus, a Goldman Sachs wealth manager sues for discrimination.


Fed dodges key decision on faster payments


The central bank said Wednesday that it will assess a range of options regarding its operational role in a modernized payment system, an issue that divides large and small banks.


Federal Reserve names Sapenaro as lead on payments initiatives


Dave Sapenaro, first vice president and chief operating officer at the Federal Reserve Bank of St. Louis, will oversee the Fed's payments system improvement initiatives.


Inside seven plans for a faster U.S. payment system


A task force convened by the Federal Reserve released its evaluations last week of 16 proposals to build a faster U.S. payment system. What follows is a brief look at some of the plans that received high marks.


Fed commits to speeding up payments following task force report


In early fall, the central bank is expected to announce its next steps regarding how to improve the aging U.S. payments system.