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Ken Montgomery, who is heading up the Federal Reserve's faster payments network, says the agency is taking an incremental approach to launching the service.February 12
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To address immediate market demand but allow time for the project to be done right, the official leading implementation of FedNow says the central bank envisions an initial release in 2023 or 2024 followed by subsequent updates.February 12
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The bank was one of the first users of The Clearing House's RTP network. Andrew Haskell explains how faster payments are helping the bank and its clients.January 27
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In a move to increase the attractiveness of its Real-Time Payment network, The Clearing House is raising the transactional limit for single payments to $100,000 starting Feb. 1.January 23
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A day after House Democrats urged the banking agencies to unite behind a joint plan to update the Community Reinvestment Act, Senate Democrats worried that an impending proposal from the OCC and FDIC will reduce access to credit.December 5
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The Fed's real-time payments system won't be up and running for years, but consumers and businesses demand faster payments today.December 2
Vice president of public affairsCross River Bank
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Stephen Ranzini, CEO of University Bank, says The Clearing House's RTP and Early Warning's Zelle handle enrollment, encryption and authentication insecurely.December 1
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In a sit-down interview, Cleveland Fed President Loretta Mester discusses how the FedNow real-time payment system will work alongside a big-bank one.November 25
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The Cleveland Fed president dismissed concerns about the central bank's faster payments system competing with The Clearing House's network, while saying that a national digital currency is less of a necessity in the U.S. than in other countries.November 24
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Readers react to Sen. Warren's plan to weed out Washington corruption, Facebook CEO Mark Zuckerberg's testimony before Congress, restricting the Federal Reserve's proposed real-time payments system and more.October 31
