The central bank must engage core processors, community banks and The Clearing House if it wants to move quickly on building out its FedNow system.
One Republican lawmaker went so far as to suggest that Congress should try to block the central bank's effort, but Democrats said FedNow will promote competition in real-time payments.
Congress held two hearings last week on the subject of real-time payments where the focus was on the Federal Reserve System of the United States deciding that for the public good, it needs ...
A proposed faster payments regime from the Federal Reserve may be just the beginning of a years-long turf battle among various sectors of the payments industry, government and other sectors.
Read our latest post from Davis Polk partners Margaret Tahyar and Jai Massari, and associate Andrew Samuel.
Since Fed catalysed the private sector to deliver real-time payment capabilities, there has been adv...
I want to thank Darrell Duffie for inviting me to discuss the future of payments. 1 Digitalization is enabling consumers and businesses to transfer value
The Federal Reserve has released a new resource for companies to combat fraud on legacy rails, while new rails like RTP gain traction.
But it has given itself a leisurely five years to do it
US Federal Reserve remains focused on launching FedNow for handling real-time digital payments and settlements.
Patrick Harker, president of the Federal Reserve Bank of Philadelphia, discusses how fintech will impact the banking system, among other topics, with Wharton finance professor Richard J. ...
In a speech at the Federal Reserve Bank of Kansas City on August 5, Federal Reserve Governor Lael Brainard outlined plans to launch a real-time payment and settlement service to support ...
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.
Small and medium-sized businesses are finally getting some much-needed help from the Federal Reserve.
Fed Chair, Jerome Powell has hinted at using an Ethereum-based interest reference rate in a transition from the Libor.