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Congress should get behind the Fed's effort to launch a real-time payments service instead of getting in its way.
October 29Oak View National Bank -
Congress should get behind the Fed's effort to launch a real-time payments service instead of getting in its way.
October 23Oak View National Bank -
One Republican lawmaker went so far as to suggest that Congress should try to block the central bank's effort, but Democrats said FedNow will promote competition in real-time payments.
September 25 -
The Clearing House is working to add its Real-Time Payments (RTP) network as a third payment rail for Early Warning Services’ Zelle P2P payments service and to enable Zelle bill pay and possibly point of sale transactions.
September 25 -
Increased adoption of The Clearing House’s faster payments system could put pressure on community banks and credit unions awaiting the launch of the Fed’s competing service, FedNow.
September 20 -
Community banks and tech companies that are happy the central bank is building a next-generation system are not as pleased with its four- to five-year timeline. But big banks see the slow rollout as an opportunity to expand their own instant payment network.
August 29 -
The Clearing House has been quite clear that it did not think the Federal Reserve's FedNow real-time settlement service would be necessary. But some of its executives are rethinking that stance.
August 28 -
Vice Chairman Randal Quarles’ public dissent raises questions about how the board will proceed on other policy debates.
August 7 -
Community banks shouldn’t wait for the Fed to create a new real-time payments rail when consumers are already flocking to other options.
August 5Cape Cod Five Cents Savings Bank -
“It wouldn't be unusual” for the Federal Reserve to work alongside private-sector operators in the creation of a U.S. real-time payments system, its chairman said.
July 31