Q&A with Shonda Clay, the Federal Reserve’s New Payments Improvement Director
The Federal Reserve’s new payments improvement director, Shonda Clay, discusses the Fed’s continued efforts on advancing the U.S. payment system.
Announcing Participants of the Newly Created FedNow Pilot Program
To support the development, testing and adoption of the FedNow(SM) Service, the Federal Reserve has announced industry participants in the FedNow Pilot Program.
Defining Synthetic Identity Fraud: Federal Reserve Launches Focus Group
The Federal Reserve is convening a group of experts to create an industry-recommended definition of synthetic identity fraud and a suggested approach for voluntary industry application.
U.S. Faster Payments Council Names Federal Reserve Officer to Board Advisory Group
Connie Theien, Senior Vice President and Director of Payments Industry Relations at the Federal Reserve Bank of Chicago will advise on the newly formed U.S. Faster Payments Council’s (FPC) Board Advisory Group.
Announcing FedNowSM Service Features and Functionality
The Federal Reserve reached a milestone in the development of the FedNow Service with the August 6 announcement of the service’s features and functionality. This announcement reflects the Fed’s efforts toward establishing an infrastructure that will support instant payments in the United States.
Current Trends: Mitigating Synthetic Identity Payments Fraud
Today, the Federal Reserve published our most recent white paper in a series on synthetic identity payments fraud. Over the past year, we’ve spoken with more than 50 industry experts about the growing issue of synthetic identity payments fraud and its impact on the financial services industry.
Engage on Instant Payments: Join the FedNowSM Community
The Fed is seeking payments industry leaders with varied expertise to participate in an interactive payments community to help inform and evolve the development of the FedNow Service.
Federal Reserve to Support Same Day ACH with Extended Operating Hours
In response to industry comments on its Federal Register notice (Off-site), the Board of Governors of the Federal Reserve System has approved modifications to the Federal Reserve Banks’ FedACH® Service, National Settlement Service (NSS) and Fedwire® Funds Service to help facilitate adoption of a later Same Day automated clearing house …
Top Reasons Why an e-Invoice Interoperability Framework is Important
On Dec. 5, industry experts joined the Business Payments Coalition’s (BPC) webinar (Off-site) which outlines the concept of an e-Invoice interoperability framework, market challenges and benefits of addressing them and a path forward for the BPC work assessing U.S. market needs. Watch the webinar to learn more about how an …