Tag Archives: payments system

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.

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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.

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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.

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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.

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Task Force Assessments on ‘Faster Payments’ Due Mid-2017

The task forces convened as part of the Federal Reserve’s “faster payments” initiative have begun reviewing 19 specific proposals to advance faster payments in the U.S., according to a Fed statement today, with the first installment of a final report due from the Faster Payments Task Force and the Secure Payments Task Force in January.

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