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Payment Systems Depository Institutions

Goodwin

Federal Stablecoin Legislation Poised to Implement Comprehensive Regulatory Framework for Payment Stablecoins

Goodwin on

The Guiding and Establishing National Innovation for U.S. Stablecoins Act (the “GENIUS Act”), which would comprehensively regulate stablecoins in the United States, was adopted by the U.S. Senate on June 17 by a bipartisan...more

Foodman CPAs & Advisors

FedNow Is Live!

Foodman CPAs & Advisors on

On 7/20/ 23, the Board of Governors of the Federal Reserve system announced the launch of the FedNow Service. FedNow is a new instant payment infrastructure developed by the Federal Reserve that is available to depository...more

Latham & Watkins LLP

Federal Reserve Launches FedNow Real-Time Payment Service

Latham & Watkins LLP on

Consumers and businesses stand to benefit from rapid access to funds at any time when routed through participating financial institutions. On July 20, 2023, the Federal Reserve announced the long-awaited launch of its...more

Cadwalader, Wickersham & Taft LLP

July Launch of FedNow Service

This week the Federal Reserve reported that its instant payment service, FedNow, will be available for all participating financial institutions to use starting in July 2023....more

BCLP

Coming Up: A National Non-Depository Payments Charter?

BCLP on

Brian Brooks, Chief Operating Officer of the Office of the Comptroller of the Currency (“OCC”) said on Monday that he believes the OCC should investigate the viability and utility of a non-depository payments charter: “One of...more

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