The Federal Reserve today released their latest payments study supplement which points to an increase in the use of credit cards in 2016 from 2015. Here are the fast facts: The number of credit card payments grew 10.2 percent in 2016, a marked increase from the 8.1 percent growth experienced …
Last week, the Federal Reserve System announced that Kenneth Montgomery, Federal Reserve Bank of Boston’s first vice president and chief operating officer, will succeed Todd Aadland as the payments security strategy leader. In this role, Ken will lead the Federal Reserve’s effort to reduce fraud risk and advance the safety, …
The Federal Reserve Banks today announced plans to complete their migration to the ISO 20022 standard for their real-time gross settlement system, the Fedwire Funds Service, by the end of 2023. Adopting the ISO 20022 standard for payments clearing and settlement messages supports the Federal Reserve’s strategy to enhance the …
The weather may be cooling off but fall conference season is heating up! We’re gearing up for another exciting slate of events and are looking forward to engaging with the industry and speaking on payment system improvements, the current state of our initiative and more. We regularly attend events to …
The Federal Reserve System is pleased to release Strategies for Improving the U.S. Payment System: Federal Reserve Next Steps in the Payments Improvement Journey (Next Steps), which outlines a series of refreshed strategies and nine new tactics the Federal Reserve will employ, in collaboration with industry, to further progress toward …
Fall conference season is gearing up and the Chicago Payments Symposium is a can’t miss event for anyone involved in the payments industry. Symposium attendees can expect to hear informative dialogue on topics such as: the current state of the industry, next generation payments technology, interoperability and more. The two …
With Gordon Werkema set to retire in September, we are pleased to announce that Dave Sapenaro, first vice president and chief operating officer of the St. Louis Fed, will succeed him as Payments Strategy Director. Sapenaro, a 32 year veteran of the Federal Reserve System, has played an instrumental role …
If you’re a regular attendee of payments industry conferences, then chances are you’ve seen one of our speaking sessions or passed by our booth in the exhibit hall. That’s because we’ve been fixtures at many industry events since the launch of our initiative in 2015. This year will be no …
Today, the Federal Reserve released additional data from the 2016 Federal Reserve Payments Study that was published in December 2016. The information contained in the release surrounds a variety of payment types including check, card and ACH. Discover more about these changes by reviewing a few of the fast facts from …
The Federal Reserve Board on May 31 announced final amendments to the check collection and return provisions in Regulation CC (Availability of Funds and Collection of Checks) and also requested further public comment on an additional proposed amendment to Regulation CC’s liability provisions. The final amendments update Regulation CC to …