The Federal Reserve recently conducted a review of the current cross-border payments landscape to better understand developments and ongoing challenges. Key findings were discussed on a January webinar entitled Go Global: A Review of Progress and Pain in Cross-Border Payments (Off-site), where nearly 700 highly engaged stakeholders attended, demonstrating rich interest in this topic.
In response to industry comments on its Federal Register notice (Off-site), the Board of Governors of the Federal Reserve System has approved modifications to the Federal Reserve Banks’ FedACH® Service, National Settlement Service (NSS) and Fedwire® Funds Service to help facilitate adoption of a later Same Day automated clearing house …
On Dec. 5, industry experts joined the Business Payments Coalition’s (BPC) webinar (Off-site) which outlines the concept of an e-Invoice interoperability framework, market challenges and benefits of addressing them and a path forward for the BPC work assessing U.S. market needs. Watch the webinar to learn more about how an …
Al Pascual has a passion for righting wrongs, so he chose banking and payments fraud as his field of practice. Yet, it’s something more than a professional interest. It’s in his blood. Growing up as the son of two NYPD detectives, law enforcement was always a topic of conversation at …
Today, the Federal Reserve System announced it has joined the U.S. Faster Payments Council (FPC) (Off-site) as a founding sponsor. As a member, we’ll actively participate in the FPC’s work to facilitate faster payments in the United States, enabling Americans to securely pay anyone, anywhere, at any time with near-immediate …
On Nov. 14, 2019, Charles Evans, President of the Federal Reserve Bank of Chicago, spoke at the Third Annual Fintech Conference in Philadelphia, hosted by colleagues at the Federal Reserve Bank of Philadelphia. His speech focused on past, present and future innovations to improve the U.S. payment system, and the …
Collaboration with payments industry stakeholders continues to be one of the five key tenets of the Federal Reserve’s payments improvement initiatives and a vital component of achieving safe, ubiquitous and faster payments in the United States. Most recently, our collaboration occurred through a series of FedPayments Improvement roundtable sessions during …
Faster payments may not yet be a leading focus of many small community banks. Scott McComb is working with other community bankers to change that. McComb is chairman and CEO of Heartland Bank, a community bank based in Whitehall, Ohio that focuses on small- to medium-sized business customers. He previously …