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 …
On November 1, the Business Payments Coalition (Off-site) (BPC) published two of three new electronic invoicing (e-Invoicing) reports as part of their initiative to continue dialogue with the industry to address barriers that lead to corporate business-to-business (B2B) payments efficiency. These reports will provide you with the background and methodology …
By Tim Boike, Vice President, Industry Relations Four short days. More than 11,000 attendees, 3,500 organizations and 500+ speakers from the payments, fintech and financial services sectors. Plus, a Federal Reserve exhibit booth in the middle of it all. Yes – it’s the Money20/20 USA conference (Off-site) – a major …
The Fraud Definitions Work Group held its fourth and final in-person meeting for 2019 at the Miami Branch of the Federal Reserve Bank of Atlanta on September 12 and 13. During this meeting, the Federal Reserve shared a draft proposal for a three-phase Industry Adoption Roadmap for the Fraud Classification …
The 19th annual Chicago Payments Symposium, Looking for Innovation at the Fringes (Off-site), attracted a capacity crowd this year. Convening for two days of engaging dialogue, participants shared numerous insights – and more than a few lighthearted comments – about the benefits of payments innovation, emerging trends and public policy …
By Jim Cunha, Senior Vice President, Federal Reserve Bank of Boston Our payments security team at the Federal Reserve began talking about synthetic identity payments fraud with industry stakeholders last fall, and today, we have published our second white paper: Detecting Synthetic Identity Fraud in the U.S. Payment System (PDF). …