Real-time payments

Fed entry into real-time payments would do more harm than good

04/12/19

Arguments that the central bank should develop its own system for faster payments ignore current market realities, argues The Clearing House, which has developed its own network.

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Community bankers alarmed after big banks backtrack on faster-payments pricing

04/10/19

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.

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Real-time-payments monopoly puts financial system at risk

04/05/19

The Fed should continue to play a key role in the new payments system, rather than leaving it in the hands of the country’s largest banks, Thomas Hoenig and Bruce Summers argue.

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'There is no division in our industry': BofA's Moynihan

04/02/19

Banks of all sizes need to stick together to ward off threats from "unregulated" fintechs and other nonbanks, Bank of America Chairman and CEO Brian Moynihan said Tuesday.

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Do paycheck advance apps improve financial health?

03/11/19

Apps that let people access their pay on demand have become wildly popular. Do they solve a problem, or are they Band-Aids?

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'Why does a check take as long to clear today as it did in 1982?'

03/05/19

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.

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Real-time payments needs more competition

01/16/19

The Federal Reserve has suggested it could join the market for instant interbank payments, but private sector entrants would be better.

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Banks shouldn't count on overdraft fees forever

01/06/19

Two trends — competition from challenger banks and the emergence of real-time payments — threaten to eat away at the fees banks collect on overdrafts and bounced checks.

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Amazon, Google at odds with big banks over Fed's role in faster payments

12/17/18

The tech giants, along with Apple, PayPal and others, are calling on the Federal Reserve to build a backbone for real-time payments, rejecting large banks’ claims that the task is best left to the private sector.

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How fraudsters surprised British banks

11/27/18

As U.S. banks move toward faster payments, they should heed the lessons U.K. banks learned about criminals after launching their real-time transaction system, says Varo Money's fraud strategy leader.

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