Today, the Federal Reserve System announced it has joined the U.S. Faster Payments Council (FPC) (Off-site) as a founding sponsor. As a member, we’ll actively participate in the FPC’s work to facilitate faster payments in the United States, enabling Americans to securely pay anyone, anywhere, at any time with near-immediate …
On November 1, the Business Payments Coalition (Off-site) (BPC) published two of three new electronic invoicing (e-Invoicing) reports as part of their initiative to continue dialogue with the industry to address barriers that lead to corporate business-to-business (B2B) payments efficiency. These reports will provide you with the background and methodology …
The 19th annual Chicago Payments Symposium, Looking for Innovation at the Fringes (Off-site), attracted a capacity crowd this year. Convening for two days of engaging dialogue, participants shared numerous insights – and more than a few lighthearted comments – about the benefits of payments innovation, emerging trends and public policy …
It’s been nearly five years since the Federal Reserve published the Strategies for Improving the U.S. Payment System (SIPS) paper, a seminal work in guiding the nation’s payment industry toward a faster, safer and more efficient payment system in the United States. A lot has happened in those five short …
Last fall, the Federal Reserve Board requested comment on potential actions the Fed could take to facilitate interbank settlement of faster payments. After conducting an assessment of the public comments and policy criteria regarding the Fed’s role in the payment system, the Board has decided that the Federal Reserve Banks …
The Fraud Definitions Work Group held their first in-person meeting at the Federal Reserve Bank of Boston on April 10-11, 2019. During this meeting, the Federal Reserve provided an overview of previous payment improvement initiatives and the planned approach to these efforts. Work group members began discussing what a fraud …
Today, the Federal Reserve announced the members of the new Fraud Definitions Work Group. These industry experts will work collaboratively with the Federal Reserve on recommendations to improve the quality and consistency of ACH, wire and check fraud data. Over 140 individuals submitted an “expression of interest” from January 24 …
Federal Reserve Faster Payments Strategy Leader Sean Rodriguez will retire from the Federal Reserve Bank effective January 4, 2019. Rodriguez, an executive vice president and 35-year veteran of the Federal Reserve, is leaving on a high note after steering multi-year collaborative industry efforts to a successful conclusion with the launch …
The FedPayments Improvement Community Forum brought together 300 attendees under a common theme: to help shape the next steps in the Federal Reserve’s initiatives to modernize the U.S. payment system. Keynote speeches offered insight and updates on payment improvement initiatives and workshops facilitated conversations and collaboration. Relive the energy and …
Thank you to everyone who attended our town halls on the Faster Payments Settlement Assessment Federal Register notice (Off-site). The Federal Reserve believes that industry collaboration is the foundation of any enduring strategic improvements to the U.S. payment system. If you were unable to attend or would like to review …