Payments Dive

NOVEMBER 21, 2023

As consumers have leaned on credit cards more in recent months, applications for credit card limit extensions also rose, the New York Fed said Monday.

Credit Cards 172

Credit Cards Fed Consumer 172

Payments Dive

JULY 14, 2023

Cleveland Fed President Loretta Mester in a speech this week spelled out tools the new instant payments system will have for thwarting fraud.

Fed 148

Fed Instant Payments Payments 148

Payments Dive

MAY 23, 2023

but cash demand remains stable, a Fed report showed. Credit cards were the most used payment method last year in the U.S.,

Fed 148

Fed Credit Cards Payments 148

Payments Dive

FEBRUARY 27, 2024

This Fed official makes a strong case, but digital doubts may remain. Can the dollar’s reign as the world’s reserve currency persist?

Fed 142

Fed 142

PYMNTS

APRIL 10, 2020

As reported, the Fed is expanding its “Main Street” lending efforts for smaller firms that have staff up to 10,000 individuals; the expanded Main Street focus will provide an added $600 billion in loans and offers $75 billion slated to come from the Treasury Department. The Fed package, of course, comes on the heels of the $2.2

Fed 135

Fed Federal Reserve Returns Consumer 135

PYMNTS

SEPTEMBER 25, 2020

Cleveland Federal Reserve President Loretta Mester said in a speech this week that a digital dollar could conceivably be a form of money transfer that would enable the Fed to disburse money to all individuals in America. The Fed, of course, is hardly alone in mulling digital fiat currencies.

Fed 132

Fed Federal Reserve Digital Currency Central Bank 132

Payments Dive

JULY 20, 2022

A federal government report released this week takes aim at the problem of fraudulent public benefit payments, which mushroomed to $281 billion for fiscal year 2021.

Fed 218

Fed Payments Government Governance 218

Payments Dive

APRIL 22, 2024

The Federal Reserve is stressing the importance of fintechs and core providers for the future expansion of its new instant payments system FedNow.

FedNow 190

FedNow Federal Reserve Fed Instant Payments 190

Payments Dive

NOVEMBER 22, 2024

The regional Fed bank, which has purview for the proposed merger, demanded more information from the bank as it considers whether to approve the deal.

Fed 109

Fed 109

PYMNTS

AUGUST 14, 2020

In a speech delivered by webcast at the Federal Reserve Board and Federal Reserve Bank of San Francisco’s Innovation Office Hours, Fed Governor Lael Brainard said that the Federal Reserve Bank of Boston is working with researchers at MIT to “build and test a hypothetical digital currency oriented to central bank uses.”.

Digital Currency 113

Digital Currency Fed Federal Reserve CBDC 113

Payments Dive

NOVEMBER 5, 2024

“It's going to be up to us to move instant payments from being novel to being normal,” Federal Reserve Financial Services’ chief payments executive told attendees at a major industry conference last week.

Instant Payments 190

Instant Payments Federal Reserve Fed Payments 190

Payments Source

AUGUST 14, 2019

Were the Fed to develop its own payments platform, it would be expensive, duplicative, inefficient, and curtail development of real-time services, argues the National Taxpayers Union's Thomas Aiello.

Fed 117

Fed Faster Payments Duplicate Payments 117

Payments Dive

APRIL 24, 2023

Card, ACH and check payment values climbed from 2018 to 2021, as cash was left behind, according to the Federal Reserve’s noncash payments study.

ACH 195

ACH Federal Reserve Fed Payments 195

Payments Dive

SEPTEMBER 30, 2024

While most U.S. households have a bank account, just under half use a nonbank payment service, Kansas City Federal Reserve Bank research says.

Federal Reserve 167

Federal Reserve Fed Digital Payments Consumer 167

Payments Dive

NOVEMBER 27, 2024

Consumers’ credit card delinquencies have risen this year, along with their balances, according to an annual Federal Reserve Board report.

Credit Cards 159

Credit Cards Federal Reserve Fed Consumer 159

Payments Dive

OCTOBER 4, 2022

In a 6-1 vote, the Federal Reserve finalized a debit card processing rule that underscores a requirement that multiple card networks be available for routing transactions, including online.

Rules 184

Rules Federal Reserve Fed Debit Card 184

PYMNTS

MARCH 22, 2020

The Fed doesn’t currently think that the virus will be worsened by the transmission and trading-hands of dollars, Joey Lee, spokesperson for the Federal Reserve Bank of Philadelphia, said, pointing to recent Centers for Disease Control and Prevention (CDC) findings. In recent weeks, as the virus has spread rapidly across the U.S.

Fed 100

Fed Federal Reserve Economy Mitigation 100

Finextra

JANUARY 14, 2025

Stablecoins are going mainstream and could grow to rival credit and debit cards, predicts a payments expert at the Atlanta Fed.

Fed 90

Fed Stablecoins Debit Card Payments 90

PYMNTS

OCTOBER 9, 2020

Fed Governor Lael Brainard said in August that the Federal Reserve Bank of Boston is working with researchers at MIT to “build and test a hypothetical digital currency oriented to central bank uses.” The Fed also launched an instant payment initiative in August.

Digital Currency 104

Digital Currency Central Bank Fed Federal Reserve 104

PYMNTS

JUNE 2, 2020

The Atlanta Fed said the next GDPNow update will be on Thursday (June 4). The Atlanta Fed cautioned, “In particular, it does not capture the impact of COVID-19 beyond its impact on GDP source data and relevant economic reports that have already been released. trillion to the U.S.

Fed 110

Fed Federal Reserve Procedures Product 110

Payments Dive

NOVEMBER 18, 2024

Criminals leverage advanced technology to make so-called mule accounts that pass as humans and persuade consumers to send money to scammers, a Kansas City Fed paper says.

Fed 89

Fed Consumer Scams Accounts 89

PYMNTS

MARCH 23, 2020

The Fed would be in control of the digital wallets. In addition, member banks of the Fed can have a “pass-through digital dollar wallet” per the draft bills, as cited by the outlet. Recipients of payments would get a “pro-rata share of a pooled reserve balance” that the member keeps.

Fed 109

Fed eWallet Federal Reserve Digital Currency 109

Payments Dive

SEPTEMBER 26, 2023

Consumers using BNPL have lower credit scores, have been delinquent on a loan or have been rejected for a credit application over the past year, New York Fed researchers said.

Fed 97

Fed BNPL Research Consumer 97

Payments Dive

NOVEMBER 14, 2023

The new hire is tasked with boosting adoption of The Clearing House’s RTP real-time payments system, as the new rival Federal Reserve FedNow system seeks to attract clients.

Federal Reserve 174

Federal Reserve Fed FedNow RTP 174

PYMNTS

OCTOBER 19, 2020

The Fed chief made his comments as part of a panel discussion on digital currencies hosted by the International Monetary Fund (IMF). The Fed chief, noting that the U.S. It comes on the heels of an IMF report that raises concerns about growing momentum toward central bank-issued digital currencies (CBDCs).

Digital Currency 108

Digital Currency Central Bank Fed Federal Reserve 108

Payments Dive

OCTOBER 1, 2024

The Federal Reserve’s interest rate reduction may give the company leeway to offer more consumers 0% interest or a lower APR, Affirm CFO Michael Linford said this week.

Federal Reserve 173

Federal Reserve Fed Consumer 173

Payments Source

MARCH 14, 2019

But this new entity could butt heads with the Federal Reserve if it thinks the Fed isn't moving fast enough. The new U.S. Faster Payments Council states a clear mission — to promote faster payments in the U.S.

Fed 102

Fed Federal Reserve Faster Payments Payments 102

Payments Dive

AUGUST 26, 2024

Gen Z and millennials were the age groups most likely to use loans and credit cards to respond to higher prices, a Federal Reserve research report said.

Credit Cards 180

Credit Cards Federal Reserve Fed Consumer 180

Payments Dive

MAY 12, 2022

While first-quarter consumer credit card debt rose relative to the same period last year, it dropped compared to the fourth quarter. Meanwhile, consumers' outlook on the availability of credit deteriorated.

Credit Cards 159

Credit Cards Fed Consumer 159

Payments Dive

SEPTEMBER 18, 2024

The Federal Reserve’s proposal to extend the operating hours of two interbank payments systems has been welcomed by large banks, but panned by many small financial institutions.

Federal Reserve 167

Federal Reserve Fed Payments 167

Payments Dive

SEPTEMBER 8, 2022

Here are 10 takeaways from the Fed's new head of supervision, on everything from payments to crypto to FedNow.

FedNow 97

FedNow Fed Payments 97

Payments Dive

MAY 16, 2022

The COVID-19 pandemic led U.S. consumers to change up their payment habits, but three long-term cash trends have mainly persisted, according to a Federal Reserve Bank report issued this month.

Federal Reserve 174

Federal Reserve Fed Consumer Payments 174

Payments Dive

FEBRUARY 17, 2023

Despite a pause in payments required for federal student loans, younger borrowers particularly are showing higher credit card delinquencies.

Credit Cards 174

Credit Cards Fed Payments 174

Payments Dive

AUGUST 29, 2022

The nation’s biggest bank and bank trade groups stressed the risks of creating a central bank digital currency in comments to the Fed, and largely rejected the idea that a digital dollar would accomplish stated goals.

CBDC 213

CBDC Fed Digital Currency Central Bank 213

Payments Dive

APRIL 1, 2022

Ted Cruz's legislation, which follows a companion House bill introduced earlier this year, would prevent the Federal Reserve from issuing a central bank digital currency directly to consumers.

Federal Reserve 180

Federal Reserve CBDC Fed Digital Currency 180

PYMNTS

MAY 6, 2020

The Federal Reserve has formed a FedNow Community group for its upcoming instant payment offering, the FedNow Service , and needs volunteers to support it, the Fed announced Wednesday (May 6). The Fed acknowledged the challenges brought on by the coronavirus but noted the FedNow Service is still scheduled to be unveiled in 2023 or 2024.

FedNow 93

FedNow Fed Instant Payments Participant 93

Tom Groenfeldt

JANUARY 24, 2019

Merchants want to Fed to operate a real-time payments network as an alternative to the private network developed by the nation's largest banks through The Clearing House with technology from Mastercard.

Real Time Payments 100

Real Time Payments Fed Payment Networks Visa 100