The Paypers

JANUARY 26, 2024

The Federal Reserve Financial Services has launched a new ACH risk management service to help financial institutions in their fraud detection efforts.

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Federal Reserve Risk Management ACH Risk 36

The Paypers

SEPTEMBER 27, 2023

Federal Reserve has released market practices to advance standardised implementation of the request for payment (RFP) feature of instant payments.

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Federal Reserve RFP Request for Payment Instant Payments 41

PYMNTS

AUGUST 5, 2019

The Federal Reserve has officially announced it will create a real-time payments service, to be called FedNow. The move was described by Kansas Federal Reserve President Esther George as the biggest infrastructure upgrade embraced by the Federal Reserve since the ACH system went online in 1972. banks.

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Federal Reserve FedNow Instant Payments Real Time Payments 85

PYMNTS

SEPTEMBER 23, 2019

The phase 1 implementation of the ISO 20022 migration strategy that was scheduled for November 2020 is being postponed by the Federal Reserve Bank, the U.S. The Federal Reserve will announce an amended adoption strategy after the assessment is complete. . central bank said in a press release on Monday, Sept.

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ISO 20022 Federal Reserve ISOs FedWire 76

The Paypers

OCTOBER 13, 2021

Deloitte has launched a report on central bank digital currencies , in the context of the Federal Reserve preparing to launch a review of whether to implement its own digital currency soon.

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Federal Reserve CBDC Digital Currency Central Bank 73

The Paypers

SEPTEMBER 20, 2022

The Federal Reserve has announced the launching of a new service to help financial institutions to track trends for payments settled through its FedACH service.

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Federal Reserve FedACH Payments 36

The Paypers

JULY 21, 2023

The Federal Reserve has announced that the FedNow Service, its new system for instant payments, has gone live in the US.

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Federal Reserve FedNow Instant Payments Payments 36

Payments Dive

MAY 9, 2024

While the Federal Reserve won’t specify payments volume on the new instant system, executives from certified service providers Visa and Jack Henry said they’re seeing an increase.

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Volume FedNow Federal Reserve Service Provider 167

The Paypers

MARCH 30, 2021

The Federal Reserve of the US is actively working on a central bank digital currency and some prototypes are near completion.

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Federal Reserve CBDC Central Bank Digital Currency 72

PYMNTS

APRIL 9, 2020

In an effort to deliver more relief to the nation’s struggling small businesses and boost the economy amid the global coronavirus pandemic, the Federal Reserve announced it has taken actions to facilitate $2.3 trillion in loans. Powell in a statement on Thursday (April 9).

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Federal Reserve Facilitators Fed Small Business 60

PYMNTS

MARCH 26, 2020

The Federal Reserve announced Thursday (March 26) that it’s going to give financial institutions (FIs) an extra 30 days to file their financial statements, which are due at the end of March. On Wednesday, the Federal Reserve Board said it was going to alter its supervisory approach in light of the growing health crisis.

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Federal Reserve Fed 63

PYMNTS

JUNE 8, 2020

Answering the call to provide more help for small- and medium- sized businesses (SMBs), the Federal Reserve Board has made adjustments to its Main Street Lending Program. With these changes, borrowers will be provided with greater flexibility in repaying the loans, the Fed added.

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Federal Reserve Fed Adjustments Treasury 56

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.

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FedNow Federal Reserve Fed Instant Payments 190

The Paypers

JUNE 15, 2023

The Federal Reserve has issued its latest statement from the Federal Open Market Committee (FOMC) meeting, revealing key insights into the current state of the economy and the stance of monetary policy.

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Federal Reserve Economy 36

The Paypers

JULY 20, 2023

Deutsche Bank has received a USD 186 million fine from the US Federal Reserve for failing to address its money-laundering control issues.

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Federal Reserve Money Laundering Addressing 36

The Paypers

FEBRUARY 10, 2023

The US Federal Reserve Bank has published a new paper in which it looks closely at Bitcoin and its lack of response to most macroeconomic news.

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Federal Reserve Bitcoin 36

Faster Payments Council

DECEMBER 4, 2019

Faster Payments Council (FPC), a membership organization exclusively devoted to advancing faster payments in the United States, today announced that the Federal Reserve System has joined the FPC as a founding sponsor. payments system faster, more secure, and more efficient.

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Federal Reserve Faster Payments FPC Fed 68

PYMNTS

DECEMBER 7, 2018

The Federal Reserve sent Wells Fargo & Co. Reuters , citing three people with knowledge of the discussions, reported that because the Federal Reserve rejected Wells Fargo’s plan it could take longer for the Fed to lift the asset cap on the company put in place due to a series of sales practices scandals. “We

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Federal Reserve Caps Fed Risk Management 58

PYMNTS

MARCH 15, 2020

The Federal Reserve announced Sunday (March 15) it would drop benchmark interest rates to zero and buy at least $700 billion in government bonds as part of an emergency action to protect the economy from the impact of the coronavirus outbreak. The new rate will now be targeted at 0.0 percent to 0.25

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Federal Reserve Fed Economy Central Bank 56

PYMNTS

APRIL 9, 2020

In an effort to deliver more relief to the nation’s struggling small businesses and boost the economy amid the global coronavirus pandemic, the Federal Reserve announced it has taken actions to facilitate $2.3 trillion in loans. Powell in a statement on Thursday (April 9).

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Federal Reserve Facilitators Economy Fed 56

Payments Source

OCTOBER 25, 2016

The Federal Reserve is asking the payments industry for input on securing faster payments processing.

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Federal Reserve Faster Payments Payment Security Security 94

Payments Source

MARCH 22, 2021

Banks, credit card companies and digital payments processors are nervously watching the push to create an electronic alternative to the paper bills Americans carry in their wallets, or what some call a digital dollar and others call a Fedcoin. ]].

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Federal Reserve Push-to-Card Processors Credit Cards 99

The Paypers

APRIL 5, 2021

The Federal Reserve has launched a two-year pilot program, called FedNow, designed to improve the clearing and settlements process.

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Federal Reserve FedNow Settlement Process 48

Payments Dive

MAY 14, 2024

The Federal Reserve Board said it has received some 2,500 comment letters regarding its Regulation II proposal to cut the fees that merchants are charged when they accept debit cards.

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Debit Card Federal Reserve Fed Regulations 97

Payments Dive

MAY 7, 2024

When it comes to bridging the FedNow and RTP networks, officials at the Federal Reserve and The Clearing House have slightly different priorities.

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TCH Interoperability Fed Federal Reserve 103

Payments Source

AUGUST 24, 2017

Dave Sapenaro, first vice president and chief operating officer at the Federal Reserve Bank of St. Louis, will oversee the Fed's payments system improvement initiatives.

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Federal Reserve Payment Initiation Fed Payments 60

Tom Groenfeldt

JANUARY 29, 2019

Community banks don't trust The Clearing House and its big bank owners to treat them fairly -- they want the Federal Reserve to develop a real-time payment system of its own and extend it to financial institutions of all sizes.

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Federal Reserve Real Time Payments Community Banks Payments 74

PYMNTS

AUGUST 25, 2017

Federal Reserve has named a new payments strategy director tasked with heading the agency’s payment system improvement initiatives. As first vice president and chief operating officer of the Federal Reserve Bank of St. Sapenaro will retain his position at the Federal Reserve Bank of St.

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Federal Reserve Payments Strategy Fed Faster Payments 43

PYMNTS

DECEMBER 2, 2019

The Federal Reserve Board has approved a new fee schedule for payment services in 2020 that is overall 2.4 The fee schedule was established in accordance with the Monetary Control Act of 1980, which requires that the Federal Reserve recover the costs of services. The Reserve Banks estimate that they will recover 100.8

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Federal Reserve FedWire FedLine FedACH 40

Payments Source

JULY 30, 2019

The Fed's involvement will inject competition into the market and offer merchants choice as they weigh their payments acceptance options, argues John Drechny, CEO of the Merchant Advisory Group.

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Federal Reserve Real Time Payments Fed Payments 143

Payments Dive

OCTOBER 31, 2023

The CEOs of Mastercard and Global Payments chimed in with opposing views of the Federal Reserve Board’s proposal to lower the cap on debit interchange.

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Caps Federal Reserve Visa Payments 183

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.

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Federal Reserve FedNow Fed RTP 173

Tom Groenfeldt

NOVEMBER 6, 2019

The Federal Reserve Board has asked for comments on the FedNow real-time payments platform by Nov. 7, although if it follows the practice from last year, it may well continue taking comments past the deadline.

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Federal Reserve Real Time Payments FedNow NOV 55

Payments Dive

NOVEMBER 8, 2023

in Q3 2019, according to a report from the Federal Reserve Bank of New York. Nearly 3% of millennials are newly delinquent as of the third quarter this year, slightly up from 2.5%

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Credit Cards Federal Reserve Fed 167

Payments Dive

MARCH 23, 2023

Companies partnering with the Federal Reserve to test the real-time payments system see it as a way to draw customers and get an edge on rivals.

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Real Time Payments FedNow Federal Reserve Payments 218

Payments Dive

NOVEMBER 8, 2023

Jack Henry & Associates recorded an increase in the number of customers connected to the new Federal Reserve instant payments system, but they’re all in receive-only mode.

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FedNow Federal Reserve Instant Payments Payments 157

Payments Dive

APRIL 25, 2024

The Federal Reserve aimed to “not upset the marketplace as a second mover” when it set fees for the new instant payments system last year, a Fed official said Wednesday.

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FedNow Federal Reserve Fed Instant Payments 88