ABA last week submitted comments in support of the Federal Reserve’s recent proposal to modify the Federal Reserve Banks’ National Settlement Service and Fedwire Funds Service to accommodate a third same-day ACH processing and settlement window.
The Federal Reserve today sought public comment on whether the Fed banks should extend the daily operating hours of the National Settlement Service and Fedwire Funds Service to facilitate adoption of a third same-day ACH processing and settlement window.
Noncash payments in the U.S. continued to see strong growth in the period between 2016 and 2017, according to an annual supplement to the Federal Reserve’s triennial payments study released today.
Payment fraud remains rare, representing small fractions of 1 percent of the total number and the total value of payments, according to the Federal Reserve Payments Study released today.
With the 2018 tax filing season kicking off this week, the IRS today issued a warning about an emergent identity theft tax scam that targets tax preparers’ computers and, in some cases, involves depositing funds in victims’ bank accounts.
Financial institutions are leveraging technology to make payments faster, easier and safer.
Credit card payments grew significantly in 2016, increasing 10.2 percent to total 37.3 billion, according to new data from the Federal Reserve today.
The Federal Reserve System’s 2018 fee schedules for priced services that go into effect Jan. 1 are expected to be 1.4 percent higher on average than in 2017, and the system projects that it will recover 100 percent of its priced services costs, the Fed said today.