News & Analysis as of

Federal Reserve Electronic Payment Transactions

Nutter McClennen & Fish LLP

Nutter Bank Report: March 2023

President Recommends Regulatory Reforms to Address Recent Bank Failures - President Biden has issued a statement urging the federal banking agencies to adopt regulatory reforms that are meant to reduce the risk of future...more

Fox Rothschild LLP

What’s Next: Responding to the Silicon Valley Bank and Signature Bank Takeovers

Fox Rothschild LLP on

Sunday’s joint statement by the Department of Treasury, the Federal Reserve and the Federal Deposit Insurance Corporation (FDIC) that all depositors of Silicon Valley Bank and Signature Bank of New York would have access to...more

Nutter McClennen & Fish LLP

Nutter Bank Report: August 2019

Federal Reserve Announces Plan for Real-Time Payment and Settlement Service - The Federal Reserve has announced that the Federal Reserve Banks will develop a new real-time gross settlement service with integrated clearing...more

Latham & Watkins LLP

Let’s Settle This Immediately: The Fed Joins the Global Faster-Payments Trend

Latham & Watkins LLP on

The Federal Reserve is finally stepping into the real-time payments arena. On August 5, 2019, the Board of Governors of the US Federal Reserve System (the Fed) announced that it plans to roll out a real-time payment and...more

Nutter McClennen & Fish LLP

Nutter Bank Report, October 2018

Agencies Issue Joint Statement on BSA/AML Resource Sharing Arrangements - The federal banking agencies, along with the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) and the NCUA, have...more

A&O Shearman

U.S. Board of Governors of the Federal Reserve System Commission Study Regarding Payments Fraud and Security Vulnerabilities

A&O Shearman on

The U.S. Board of Governors of the Federal Reserve System announced that it is undertaking a study that will begin this month with respect to fraud in the U.S. payments system. The study will identify causes and contributing...more

Manatt, Phelps & Phillips, LLP

Fed Reports on Payment System Updates

Why it matters - Has the U.S. payment system improved? The process has certainly begun, the Federal Reserve System revealed in a report detailing the steps that have been taken to modernize the system and enhance both...more

Morrison & Foerster LLP

Financial Services Report, Fall 2015

BELTWAY - Straight Out of the Seventh Circuit The Seventh Circuit recently affirmed a lower court’s ruling that the SEC cannot be sued in district court to stop it from bringing an administrative action. Bebo v. SEC, No....more

Davis Wright Tremaine LLP

NACHA Adopts Same-Day ACH Rule

On May 19, NACHA adopted a rule enabling the same-day processing and settlement of most types of ACH payments (same-day rule). In 2012, NACHA had proposed an Expedited Processing and Settlement (EPS) rule providing for a...more

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