Real-time payments

Fed names leader for development of real-time payment system


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.


Digit savings app drops fee for instant overdraft protection


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


Recession-proofing loan books, Trump DOJ goes easy on big banks, Fed's real-time payment: Top stories of the week


Anticipating recession, banks start scrubbing loan books; how Trump's political appointees thwarted tougher settlements with two big banks; the Fed's plans on its real-time payment service; and more from this week's most-read stories.


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


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.


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


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.


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


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.


Fed must remain lead player in real-time payments


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


Senators press Fed's Powell on real-time payments


A group of senators on the Banking Committee sent a letter to the central bank chairman grilling him on the agency's efforts to develop a real-time payments system.


Fed essential to ensuring equal access in real-time payments


Public-sector development of a speedier settlement service, to operate alongside the one being developed by The Clearing House, is crucial for seeing that institutions of all sizes are able to take advantage of this technology.


'This time it's different': Comments of the week


Readers weigh potential risks in the leveraged loans market, debate Herb Sandler's legacy, consider the role the Fed should play in real-time payments and more.