5 Things to Know About Synthetic Identity Fraud
By Jim Cunha, Senior Vice President, Federal Reserve Bank of Boston A lively exchange of views – and many questions – were shared during our September webinar with fraud experts from the FBI and Turnkey Risk Solutions (TRS). I encourage you to listen to the archived recording if you missed …
Christina Tetreault: The Consumer’s Advocate for Faster Payments
Christina Tetreault, in her role as a consumer advocate and senior policy counsel with Consumer Reports, brought expertise that made her an important addition to the Federal Reserve’s Faster Payments Task Force. But she didn’t follow the path of your typical payments professional – nor your traditional lawyer. Tetreault came …
Q&A With Ken Montgomery, Our New FedNowSM Service Program Executive
As announced in August, the Federal Reserve is developing a new, round-the-clock real-time payment and settlement service to support faster payments in the United States. Leading this important initiative is Federal Reserve veteran Ken Montgomery. Two weeks into his new job, Ken shares his thoughts about the path ahead. Why …
A Fresh New Look and Focus
Welcome to our new website! Bringing you the latest in payments improvement news and perspectives, this website serves as a hub for our ongoing commitment to collaborate with you – and realize our collective vision for the future. Our Journey to Get Here When the Federal Reserve kicked off its …
The decision is in: The Federal Reserve Banks will develop the FedNowSM Service, a new 24x7x365 real-time gross clearing and settlement service
Last fall, the Federal Reserve Board requested comment on potential actions the Fed could take to facilitate interbank settlement of faster payments. After conducting an assessment of the public comments and policy criteria regarding the Fed’s role in the payment system, the Board has decided that the Federal Reserve Banks …
Learn About the Fraud Definitions Work Group’s Latest Progress: July Meeting Summary
The Fraud Definitions Work Group held its third in-person meeting at the Charlotte Branch of the Federal Reserve Bank of Richmond on July 24-25, 2019. This meeting featured the Federal Reserve providing an overview of the updated Fraud Classification Model for Payments (Model) and leading detailed discussions and breakouts focused …
Cash Trends in the Modern World
These days, when we think ‘payments’ we usually think the electronic kind – cards, mobile, online. Roger Replogle, executive vice president and cash product manager in the Federal Reserve System’s Cash Product Office (CPO), thinks about the legacy kind – cash – and its usage within the modern payments environment …