Tag Archives: payments system

Fed Issues Update on Faster Payments Project

The Federal Reserve today released a status update on its “faster payments” initiative, reporting progress on five key strategies: stakeholder engagement, faster payments, payment security, payment efficiency and enhanced Fed services.

Read More »

Fed Survey: Noncash Payments Total $178 Trillion

More than 144 billion noncash payments -- those made with debit or credit cards, ACH and checks -- were made in the U.S. between 2012 and 2015, totaling nearly $178 trillion, the Federal Reserve reported today in its triennial payments study.

Read More »

Fed Q&A Interprets Durbin Amendment Routing on EMV

Under the Durbin Amendment, card networks cannot require merchants to allow debit cardholders to choose EMV chip application when one application routes to a single network, according to a Q&A added on Wednesday to the Federal Reserve’s Regulation II frequently asked questions page.

Read More »

Fed’s 2017 Fees to Rise 3.2 Percent

The Federal Reserve System’s 2017 fee schedules for priced services that go into effect Jan. 1 are expected to be approximately 3.2 percent higher than in 2016, and the system expects to make a 3.6 percent profit on services provided in 2016, the Fed said yesterday.

Read More »

Brainard: Fed Reviewing Blockchain Use Cases

The Federal Reserve has convened a working group on distributed ledger technology, commonly known as blockchain, to review its uses for financial services and issue a report later this year, Fed Governor Lael Brainard said on Friday.

Read More »