News Topic: Real-time payments

The measure would release $2 million in funding for the U.S. Postal Service to launch pilot programs to provide basic services such as checking accounts and bill payment. ... Read full article

Millions of Americans have yet to receive their stimulus checks, leading progressives to demand reforms improving underbanked consumers’ access to the financial system. ... Read full article

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

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. ... Read full article

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. ... Read full article

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. ... Read full article

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. ... Read full article

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. ... Read full article

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

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

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. ... Read full article

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. ... Read full article

Readers react to Sen. Warren's plan to weed out Washington corruption, Facebook CEO Mark Zuckerberg's testimony before Congress, restricting the Federal Reserve's proposed real-time payments system and more. ... Read full article

Many small banks remain skeptical of the payments network because it is owned and operated by big banks and they are waiting for the Federal Reserve to launch a rival service. ... Read full article

Leveraging new technology and APIs, Fiserv has rolled out CheckFree Next, a major update of the core CheckFree bill payment technology Fiserv acquired in 2007. ... Read full article

Congress should get behind the Fed's effort to launch a real-time payments service instead of getting in its way. ... Read full article

U.S. Bank has hired payments veteran Peter Gordon to fill a new post as head of emerging payments product and strategy, tapping his years of experience developing real-time payments technology. ... Read full article

Susan French, head of product at BBVA Open Platform, discussed the bank's vetting of fintech partners and how it deals with the competitive threat that their products present. ... Read full article