March 2020 Pulse Newsletter

Highlights

ICYMI: Federal Reserve Leaders discuss success and momentum on the path to payments improvement

To commemorate the five-year anniversary of the Strategies for Improving the U.S. Payment System initiative, Federal Reserve payments leaders discuss recent successes and future momentum on the path toward a faster, safer and more efficient payment system.

Fraud Definitions Work Group January Meeting Summary

The Fraud Definitions Work Group convened for its final in-person meeting at the Federal Reserve Bank of Atlanta this past January. The group discussed the draft industry adoption roadmap, additional attributes and key benefits for the Fraud Classification Model for Payments (Model).

Recent Announcements

Federal Reserve Banks’ COVID-19 update

The Federal Reserve is committed to preparedness in response to coronavirus disease (COVID-19). Among other actions, the Federal Reserve Banks have plans in place that focus on ensuring all financial services functions continue. We are monitoring updated guidance from the World Health Organization and Centers for Disease Control and Prevention to stay informed on the latest developments. Visit FRBServices.org (Off-site) for more information.

Take on Payments blog discusses fraud in emerging payments

The Take on Payments blog is sponsored by the Federal Reserve Bank of Atlanta’s Retail Payments Risk Forum. A recent post asks, “Do you believe that the fraud rates for new and emerging payment products are likely to be higher than the more established payment products?” Read the post now (Off-site) and join the discussion.

Your Voice Matters – Stay Engaged

Join FedPayments Improvement on Social Media

Stay up to date on the latest news, initiatives and engagement opportunities — connect with us on Twitter (Off-site) and LinkedIn (Off-site)!

In The News – Top Headlines

NAFCU Journal – March/April 2020
The Payments Evolution (Off-site)

Regulatory Report – 2/27/20
Bowman says work still underway on FedNow; reiterates push for consistent guidance on third-party due diligence (Off-site)

Digital Transactions – 2/25/20
More Details About FedNow Expected in Coming Months (Off-site)

Green Sheet – 2/24/20
Getting real about faster payments (Off-site)

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