The future is FedNow: how the new RTP service is aiming to future-proof US payments
FedNow has the potential to drive innovation, broaden financial inclusion and improve cash flow.
Federal Reserve
US regulators shutter New York’s Signature Bank following SVB collapse
Signature Bank is a large lender in the cryptosphere.
US Federal Reserve sets up new specialist team to supervise crypto sector
The team will monitor the cryptosphere as regulators look to manage risk and promote innovation.
White paper: FedNow is almost here!
Everything you need to know before the launch of FedNow – a new real-time payment and settlement service in the US.
SoFi realises ambition to become national bank with US regulatory approval
The firm filed an application with the Office of the Comptroller of the Currency in July 2020.
Elizabeth Warren calls on Fed to break up Wells Fargo
Senator cites the bank’s “longstanding ungovernable behaviour”.
Federal Reserve chair says cyber risk a greater threat than another financial crash
Cyber-attacks are a “big part of the threat picture in today’s world”.
US Federal Reserve’s payment system down for more than three hours
Both Fedwire and FedDACH went down this week, and remained so for a few hours.
Federal Reserve demands clarity on US banks’ diversity efforts
The Fed is working with other financial regulators to boost responsiveness.
US regulators relax Volcker Rule restrictions
Major US banks allowed to unlock wider range of investment options.
Financial regulators address the economic & operational effects of COVID-19
Regulators across the globe issue statements addressing coronavirus precautionary measures.
Federal Reserve shelves tougher liquidity rules for foreign banks
Minimum level of liquid assets not required by US branches.
Federal Reserve signs off on Volcker Rule simplification
“Volcker 2.0” to go live in January 2020.
Fed Payments Study: Noncash Payments Soar amid Check Decline
Consumers wrote nearly two-thirds fewer checks per household in 2015 than in 2000, while total noncash payments per household, which includes checks, card payments and electronic transfers via ACH, expanded almost 95 percent, according to additional results released June 30 from the “2016 Federal Reserve Payments Study.” While the numbers are encouraging to those facilitating electronic payments, prepaid providers have some work to do to gain market share.
