Faster payments

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 CEO's tenure lasted just 18 months; the former FDIC chair says having Congress more involved in setting accounting standards "could well backfire on the banks."

Standardizing charge backs would make management easier, and merchants would only have to understand one set of protocols, which could also standardize responses, says Monica Eaton-Cardone, COO of Chargebacks 911 and CIO of its parent company Global Risk Technologies.

“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.

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

Two weeks after lawmakers grilled a Facebook exec over its crypto plans, they acknowledged there are benefits from digital currency technology and urged U.S. companies to take the lead.

If the Federal Reserve doesn't maintain an active role, Wall Street megabanks could take over the payments system.

House lawmakers go light on BB&T-SunTrust merger; Santander Bank names longtime MUFG Union executive its CEO; the fintechs trying to solve America's retirement problem; and more from this week's most-read stories.

Readers react to BofA defending reverse mortgage borrowers, support the Federal Reserve creating a real-time payments system, advocate for consolidating federal bank agencies and more.

The CEO of a big-bank lobbying group recently said that the central bank may be on the verge of pulling a bait and switch on faster payments. But his comments glossed over a lot of the relevant history.