Real-time payments

We shouldn't have to wait for FedNow to have faster payments

02/28/20

The Fed can take steps now to speed up existing networks.

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‘We want to take the time to get it right’ — Fed’s Montgomery on FedNow

02/12/20

Ken Montgomery, who is heading up the Federal Reserve's faster payments network, says the agency is taking an incremental approach to launching the service.

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Why the Fed is taking an incremental approach to faster payments

02/12/20

To address immediate market demand but allow time for the project to be done right, the official leading implementation of FedNow says the central bank envisions an initial release in 2023 or 2024 followed by subsequent updates.

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BNY Mellon’s early adoption of real-time payments paying dividends

01/27/20

The bank was one of the first users of The Clearing House's RTP network. Andrew Haskell explains how faster payments are helping the bank and its clients.

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The Clearing House raises real-time payment threshold to counter rival networks

01/23/20

In a move to increase the attractiveness of its Real-Time Payment network, The Clearing House is raising the transactional limit for single payments to $100,000 starting Feb. 1.

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Democrats seek assurance regulators won't weaken CRA

12/05/19

A day after House Democrats urged the banking agencies to unite behind a joint plan to update the Community Reinvestment Act, Senate Democrats worried that an impending proposal from the OCC and FDIC will reduce access to credit.

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Don’t wait around for FedNow

12/02/19

The Fed's real-time payments system won't be up and running for years, but consumers and businesses demand faster payments today.

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The gaping security holes plaguing real-time payments

12/01/19

Stephen Ranzini, CEO of University Bank, says The Clearing House's RTP and Early Warning's Zelle handle enrollment, encryption and authentication insecurely.

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'There's going to be room for both systems'

11/25/19

In a sit-down interview, Cleveland Fed President Loretta Mester discusses how the FedNow real-time payment system will work alongside a big-bank one.

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FedNow is necessary, Fed digital currency is not: Mester

11/24/19

The Cleveland Fed president dismissed concerns about the central bank's faster payments system competing with The Clearing House's network, while saying that a national digital currency is less of a necessity in the U.S. than in other countries.

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