Tag Archives: payments system

Faster Payments Task Force Capability Showcase Now Open

The Federal Reserve’s Faster Payments Task Force is inviting payment innovators to submit capabilities that can support end-to-end faster payments solutions to its Capability Showcase, a web forum where solutions providers can share new technologies and ideas.

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Fed to Review Check Image Service Fees

On Monday, in response to requests by ABA and others in the payments industry, Federal Reserve Governor Jerome Powell said the Fed would review the Federal Reserve Banks’ costs associated with anti-money laundering and compliance as well as a review to determine if any changes to Fed policies, procedures, or fee structures are warranted.

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N.Y. AG: Daily Fantasy Sports Violate State Law; FanDuel and DraftKings Fight Back

On November 17th, New York State Attorney General Eric Schneiderman filed an enforcement action in New York State Supreme Court in the County of New York, seeking a preliminary injunction against DraftKings and FanDuel. Schneiderman argues that because daily fantasy sports (DFS) sites allow wagering based on one day’s outcomes and not an entire season, it is gambling and not a game of skill, and therefore is illegal in New York. New York State issued an enforcement action prohibiting the DFS sites from accepting wagers from its citizens.

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