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Fed In The News

The Federal Reserve is often in the news for its thought leadership and work efforts in payments improvement. Here are some of the most recent stories.

2021

- Five Banks To Test FedNow Real-Time Payments System (Off-site) (PYMNTS.com, April 4)
- Synthetic Identity Fraud: How to Define and Detect (Off-site) (BankInfoSecurity, April 2)
- How is FedNow Coming Along? (Off-site) (BID Daily Newsletter, April 1)
- Federal Reserve Announces Message Specifications for FedNow (Off-site) (PYMNTS.com, March 31)
- Learning to speak the same fraud language (Off-site) (Fraud Magazine, March/April 2021)
- How Do You Identify & Fight Synthetic Identity Fraud? (Off-site) (BID Daily Newsletter, 3/1)
- Fed moves up FedNow launch date (Off-site) (Ballard & Spahr Consumer Finance Monitor, 2/18)
- Fed more bullish on launch of real-time payments service (Off-site) (American Banker and PaymentsSource, 2/2)
- How a Processor Sees Opportunity in Its Participation in the Upcoming Pilot for FedNow (Off-site) (Digital Transactions, 2/1)
- The FedNow Leaps Forward with a Large Pilot Group of Processors and Financial Institutions for Real Time Payments (Off-site) (Payments Journal, 1/27)
- A Planned Pilot for FedNow Spurs More than 110 Banks and Processors to Sign up (Off-site) (Digital Transactions, 1/25)
- The Future of Payments is Instant (Off-site) (Progressive Grocer, 1/7)
- Fraudulent Activity is the New Virus, and Here Are Some Possible Solutions (Off-site) (Payments Journal, 1/7)
- Prime Time for Real Time (Off-site) (Digital Transactions, 1/1)

Archive

2020

Innovation Exposes Payment Vulnerabilities (Off-site) (Insurance CIO Outlook, 12/1)
EBAday 2020: It’s do-or-die time for real-time payments (Off-site) (Finextra, 11/25)
Synthetic identity fraud worrying U.S. regulators (Off-site) (Reuters, 11/24)
Synthetic Identity Fraud is Growing; Federal Reserve Says (Off-site) (Digital Privacy News, 11/5)
MoneyFest 2020: The Fed Plans to Build an Instant Payment Network by 2024 (Off-site) (BizTech Magazine: 10/28)
FedNow Pilot Program seeks participants (Off-site) (CU Insight, 10/16)
FedNow’s Montgomery: Gearing Up For 2023-24 — And Instant Payments Competition (Off-site) (PYMNTS.com, 10/12)
Bridging the Gap to Faster Payments (Off-site) (FinTech Rising, 10/1)
Faster payments are complex, but consumer demand is high (Off-site) (PaymentsSource, 9/30)
The Potential of Real-time Payments for Ecommerce (Off-site) (Practical Ecommerce, 9/29)
Must faster payments come with faster fraud? (Off-site) (PaymentsSource, 9/25)
Accelerating Digitalization Exposes Persistent Weaknesses in Identity Protections (Off-site) (Global Association of Risk Professionals, 9/25)
BankThink: The partners that can help Fed speed launch of real-time payments (Off-site) (American Banker, 9/23)
FedNow on schedule as Covid alters demand (Off-site) (PaymentsSource, 9/22)
The Fed Announced More Details on FedNow. Here’s What You Need to Know. (Off-site) (Payments Journal, 9/14)
The Fed Announced More Details on FedNow. Here’s What You Need to Know. (Off-site) (Payments Journal, 9/14)
Two Years to US Real-Time Service FedNow (Off-site) (Global Finance, 9/3)
Competition grows over US real-time payments (Off-site) (PaymentEye, 9/1)
How Fraudsters Are Adapting to Changes in Payment Methods (Off-site) (BankInfoSecurity, 8/24)
FedNow Looks to Pilots Starting Next Year And Sticks to Its 2023 Or 2024 Launch Plan (Off-site) (Digital Transactions, 8/6)
The Fed moves closer to a new way to get people their money faster. (Off-site) (New York Times, 8/6)
Fed to have payments service ready ‘as soon as practicably possible’ (Off-site) (American Banker, 8/6)
Fed’s Brainard lays out central bank’s instant payments framework (Off-site) (Reuters, 8/6)
Addressing the challenges of synthetic identity fraud (Off-site) (FinTech Rising, 7/28)
The GiD Report #118 — The fastest growing cybercrime and what it tells us about the state of identity (Off-site) (Medium, 7/14)
Fed shares insight on how to combat synthetic identity fraud (Off-site), (WeLiveSecurity, 7/6)
New Fed Report Recommends ‘Comprehensive Approach’ To Fighting Synthetic Identity Fraud (Off-site), (PYMNTS.com, 7/2)
Fed unveils new tool to detect fraud in payments (Off-site), (FOX Business, 6/18)
Fed Publishes New Standardized Framework for Understanding Payments Fraud (Off-site), (ABA Banking Journal, 6/18)
Fed Launches FedNow Community For Instant Payments, Seeks Participants (Off-site), (PYMNTS.com, 5/6)
BankThink: The American payment system was ready for the coronavirus pandemic (Off-site) (American Banker and PaymentsSource, 4/27)
The Time for Faster Payments? Now (Off-site) (CU Today, 4/22)
What FedNow means for faster payments in the US (Off-site) (Eversheds Sutherland LLP Legal Alerts Blog, 4/15)
TCH RTP and FedNow: What’s Next for U.S. Immediate Payments? (Off-site) (ACI blog, 4/14)
This One Problem Stifles Innovation At Big Companies (Off-site) (Forbes.com, 3/24)
The Payments Evolution (Off-site) (The NAFCU Journal, March-April 2020)
Bowman says work still underway on FedNow; reiterates push for consistent guidance on third-party due diligence (Off-site) (Regulatory Report, 2/27)
More Details About FedNow Expected in Coming Months (Off-site) (Digital Transactions, 2/25)
Getting real about faster payments (Off-site) (Green Sheet, 2/24)
Mester says Fed working with private sector to develop faster payment system (Off-site) (Reuters, 2/14)
Why the Fed is taking an incremental approach to faster payments (Off-site) American Banker, 2/12)
Podcast: ‘We want to take the time to get it right’ — Fed’s Montgomery on FedNow (Off-site) (American Banker, 2/12)
FedNow is coming. Here’s what you need to know (Off-site) (Independent Banker Magazine, January 2020 issue)
What’s Up in 2020: Faster Payments Predictions for the New Decade (Off-site) (U.S. Faster Payments Council blog, 1/6)
FedNow: Are US Banks Ready For Real-Time Payments? (Off-site) (Forbes.com, 1/6)

2019

It’s Official: Same-Day ACH Gets a Third Settlement Window, Effective March 2021 (Off-site) (Digital Transactions, 12/23)
Fed Survey: Non-Cash Payments Total $97.04T (Off-site) (ABA Banking Journal, 12/19)
Regulators warn about fraudsters creating synthetic borrowers (Off-site) (Roll Call, 12/10)
FedNow is necessary, Fed digital currency is not: Mester (Off-site) (American Banker, 11/24)
Fed’s faster payments network likely ahead of schedule: Powell (Off-site) (American Banker, 11/14)
Big Retailers Anticipate FedNow Will Bring Competition to Payments (Off-site) (Digital Transactions, 11/12)
Speedier Payment Systems Could Curb Your Costs (Off-site) (Associated Press, 11/4)
U.S. financial institutions and the Federal Reserve are ramping up efforts to provide faster payments solutions (Off-site) (ETA Transaction Trends Magazine, Fall 2019)
How Can FIs Better Detect Scams? Fed White Paper Offers Answers (Off-site) (CU Today, 10/29)
Fed White Paper Examines Synthetic Identity Fraud (Off-site) (ABA Banking Journal, 10/23)
Making the World Safe for Real-Time Payments (Off-site) (Payments Journal, 10/21)
The Future of Real-Time Payments (And How Your Business Stands to Benefit) (Off-site) (Grow Wire, 10/3)
Pricing, Disputed Transactions Among Undetermined FedNow Issues (Off-site) (Digital Transactions, 9/9)
Why the Fed is right to step in and finally make real-time payments happen (Off-site) (Yahoo! Finance, 9/4)
Fed names leader for development of real-time payment system (Off-site) (American Banker, 8/15)
The Fed Debuts FedNow (Off-site) (PYMNTS.com, 8/6)
Fed says it will develop faster digital banking system. But Wall Street fears tech incursion. (Off-site) (Washington Post, 8/5)
Fed plans to launch real-time payment service by 2024 (Off-site) (American Banker, 8/5)
Fed Wants Workers to Get Pay Faster (Off-site) (New York Times, 8/5)
Fed to Create Payments System to Speed Money Transfers (Off-site) (Wall Street Journal, 8/5)
Fake Out: Synthetic Identity Fraud is the new hit on financial institution (Off-site) (CUInsight, 7/23)
Go Slow on Libra. Speed up on Faster Payments. (Off-site) (Forbes, 7/17)
Extended Hours for Same Day ACH: The Time Has Come (Off-site) (PaymentsJournal, 7/15)
Federal Reserve White Paper on Synthetic Identity Payments Fraud– A Growing Problem in the U.S. That Affects Consumers, Businesses, Financial Institutions, Government Agencies and the Health Care Industry (Off-site) (The National Law Review, 7/15)
Federal Reserve releases report on hazards of synthetic identity payments fraud (Off-site) (Financial Regulation News, 7/12)
Synthetic ID Theft is the Fastest Growing Financial Crime (Off-site) (Security Magazine, 7/11)
How IDs Invented out of Whole Cloth Have Become a Fast-Growing Scourge in Payments (Off-site) (Digital Transactions, 7/11)
Fed White Paper Looks at Synthetic Identity Payments Fraud (Off-site) (ABA Banking Journal, 7/9)
Synthetic Identity Fraud in U.S. Payments: The Fastest Growing Fraud Segment (Off-site) (PaymentsJournal, 7/9)
Why is the U.S. payments system still so slow? (Off-site) (American Banker ‘Bankshot’ Podcast, 6/10)
Consumer privacy, Fed Bank update on NAFCU Cyber and Payments Committee agenda (Off-site) (NAFCU Newsroom, 6/4)
Fed Shares Payments and Fraud Data and CNP Expo (Off-site) (Card Not Present^®, 5/23)
Fast Forward: The Future of Faster Payments is Now (Off-site) (Banking CIO Outlook, 5/15)
E-Invoicing Hasn’t Broken Through in the U.S., But It Should (Off-site) (APF Online, 5/13)
Fed Seeks Comment On New Operating Hours For Fedwire Funds (Off-site) (PYMNTS.com, 5/10)
Federal Reserve names members of the fraud definitions working group (Off-site) (Finextra, 3/18)
Fighting Fraud In A Faster Payments Landscape (Off-site) (PYMNTS.com, 1/30)

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