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Community banks shouldn’t wait for the Fed to create a new real-time payments rail when consumers are already flocking to other options.

Community banks shouldn’t wait for the Fed to create a new real-time payments rail when consumers are already flocking to other options.

The current overdraft rules could use some tweaks, but it should largely remain the same to protect consumers.

There’s a long list of reasons traditional lenders haven't kept up with the needs of entrepreneurs, says Judith Erwin, the head of Grasshopper Bank in New York. One is not asking for enough feedback.

The Clearing House's Real-Time Payments hasn't grown as fast as it would like, but recent small-bank adoption is providing momentum for a network that assumes the Federal Reserve won't start its own real-time service.

Janet Estep is nearing the end of her tenure as Nacha’s CEO, but she's no less devoted to overcoming the last hurdles to implementing faster payments.

Competition from the public sector in payment services has benefited the public and should not be discounted in the development of a real-time system, said Kansas City Fed chief Esther George.

Banks and governments around the world have invested in systems that seek to instantly transfer money between accounts, moves that could put pressure on the sprawling debit card business at the world’s largest payments network. But Visa Inc. Chief Executive Al Kelly isn’t too worried.

Avidia Bank joins the network even as other community banks call on the Fed to create its own real-time payment service to compete.

Digit's savings app, relying on JPMorgan Chase's new real-time payments service, will offer customers an instant withdrawals feature that uses savings as a cushion against checking overdraws.