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%

Credit Cards 167

Credit Cards Federal Reserve Fed 167

Payments Dive

AUGUST 29, 2024

Federal Reserve Governor Christopher Waller suspects there could be more fraud and money-laundering if countries move too quickly to link their faster payments systems, he said at a conference.

Cross-Border Payments 97

Cross-Border Payments Cross-Border Federal Reserve Money Laundering 97

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.

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Federal Reserve FedNow Instant Payments Real Time Payments 85

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.

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ACH Federal Reserve Fed Payments 194

Fintech News

DECEMBER 10, 2023

The Reserve Bank of India (RBI) has initiated discussions with the Hong Kong Monetary Authority (HKMA) , the US Federal Reserve, and the international payment platform SWIFT to explore the use of central bank digital currencies (CBDCs) for cross-border payments.

Cross-Border Payments 119

Cross-Border Payments Cross-Border SWIFT Fed 119

Payments Dive

MAY 24, 2024

Business use of digital wallets rose last year more than their use of many other forms of payment, according to a survey commissioned by the Federal Reserve’s financial services unit.

Federal Reserve 113

Federal Reserve Fed Payments 113

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 Dive

AUGUST 16, 2024

The Federal Reserve is still seeking to allay financial institutions' concerns that faster payments allowed by the new instant payments system could lead to faster fraud.

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Federal Reserve FedNow Fed Instant Payments 97

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 assessment by the Fed will incorporate dialogue from users of the Fedwire Funds Service and The Clearing House Payments Company , which runs the CHIPS funds-transfer system.

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ISO 20022 Federal Reserve ISOs FedWire 76

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.

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Rules Federal Reserve Fed Debit Card 183

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

DECEMBER 20, 2023

PayPal, Block and Global Payments representatives contributed to the Atlanta Federal Reserve Bank’s research on how to draw more people into the digital payments sphere.

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Federal Reserve Fed Blocks PayPal 113

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). In addition, the U.S.

Federal Reserve 60

Federal Reserve Facilitators Fed Small Business 60

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

PYMNTS

AUGUST 14, 2020

A week after details of the Federal Reserve’s instant payment initiative emerged, news came via Bloomberg that the central bank is working with the Massachusetts Institute of Technology (MIT) to explore the possibility of issuing digital currency.

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Digital Currency Fed Federal Reserve CBDC 113

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

Payments Dive

AUGUST 22, 2023

check use for transactions, other nations have seen sharper declines, a Federal Reserve study showed. Although there has been a drop in U.S.

Checks 147

Checks Federal Reserve Fed Transactions 147

Finextra

JUNE 24, 2024

The Federal Reserve has developed a tool, called the ScamClassifier model, to help the payments industry improve scam reporting, detection and mitigation.

Fed 72

Fed Federal Reserve Scams Mitigation 72

Finextra

SEPTEMBER 1, 2024

Federal Reserve governor Christopher Waller has cautioned against the clamour to interlink national fast payment systems, insisting that the US is focused on building up its FedNow network domestically.

Federal Reserve 81

Federal Reserve FedNow Fed Payments 81

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.

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Fed Federal Reserve Digital Currency Central Bank 132

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. "The

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Federal Reserve Faster Payments FPC Fed 68

Payments Dive

OCTOBER 25, 2023

The Federal Reserve Board proposed a rule change that would slash the amount card issuers can charge merchants for processing a debit transaction. The proposal also calls for periodic updates to the fee cap in the future.

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Caps Federal Reserve Fed Card Issuer 109

Payments Dive

MAY 16, 2022

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. The COVID-19 pandemic led U.S.

Federal Reserve 174

Federal Reserve Fed Consumer Payments 174

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). In addition, the U.S.

Federal Reserve 56

Federal Reserve Facilitators Economy Fed 56

Finextra

JULY 21, 2024

The Federal Reserve has fined Green Dot $44 million for "numerous" unfair and deceptive practices in the marketing, selling and servicing of its prepaid cards and its tax return preparation payment services.

Fed 69

Fed Federal Reserve Returns Payments 69

Payments Dive

FEBRUARY 20, 2024

Tools that “automate processes, reduce costs and promote effective safeguards across jurisdictions” may help improve cross-border payments, a Federal Reserve official said last week.

Cross-Border Payments 88

Cross-Border Payments Cross-Border Federal Reserve Fed 88

PYMNTS

MARCH 23, 2020

To help bolster the American economy amid the COVID-19 pandemic, the Federal Reserve could utilize digital wallets and a “digital dollar” to provide “qualified individuals” with payments. The Fed would be in control of the digital wallets. Finance reported. . economy overall in this challenging time.

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Fed eWallet Federal Reserve Digital Currency 109

Payments Dive

MARCH 19, 2024

Automated payments volume processed by The Clearing House grew at a faster rate than at the Federal Reserve last year.

Federal Reserve 97

Federal Reserve ACH Fed Volume 97

Payments Dive

MAY 20, 2024

Federal Reserve Governor Christopher Waller last week underscored the central bank’s role for setting standards in the rapidly evolving payments arena.

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Federal Reserve Fed Central Bank Payments 78

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.

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Federal Reserve CBDC Fed Digital Currency 179

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.

Federal Reserve 58

Federal Reserve Caps Fed Risk Management 58

PYMNTS

APRIL 10, 2020

Federal Reserve said that it had launched a multi-trillion dollar lending program that targets smaller businesses, and in a broadened salvo, targets local governments, too. The Fed package, of course, comes on the heels of the $2.2 The Fed package, of course, comes on the heels of the $2.2 But so might a “false start.”.

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Fed Federal Reserve Returns Consumer 135

Payments Dive

JUNE 28, 2024

Cheryl Venable is exiting her role as chief of payments operations for the Federal Reserve Financial Services to take the new post.

Federal Reserve 78

Federal Reserve Fed Payments Posting 78

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

JUNE 24, 2024

The Federal Reserve said last week that it will give the public two more months to comment on its plan to expand operating hours for its two large-value payments services, the Fedwire Funds Service and the National Settlement Service.

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FedWire Federal Reserve Fed Settlement 78

Payments Dive

JANUARY 23, 2024

The Federal Reserve extended the time period during which it will accept public comments on its proposal to reduce the cap on debit card fees.

Debit Card 97

Debit Card Federal Reserve Fed Caps 97

PYMNTS

OCTOBER 9, 2020

The Federal Reserve is collaborating with seven central banks and the Bank for International Settlements (BIS) to hammer out a framework for digital currency. . The Fed also launched an instant payment initiative in August. A May BIS survey of 66 central banks indicated that 80 percent are working on CBDCs. .

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Digital Currency Central Bank Fed Federal Reserve 104