Ad Law Tool Kit Show – Episode 7 – Payment Processing
The Future of Payments: Exploring FedNow With the Payments Professor — Payments Pros – The Payments Law Podcast
Consumer Finance Monitor Podcast Episode: The Impact of New Developments in Payment Systems on Low-Income Consumers
FedNow Is Here! - Payments Pros: The Payments Law Podcast
Payments and the Solar Industry - Payments Pros: The Payments Law Podcast
Is the U.S. Payments System Failing Business and Consumers? A Discussion with Special Guest Dan Awrey, Professor of Law, Cornell Law School
GIACT and Hudson Cook Break Down NACHA’s New Account Validation Rule
ASG LegalTech CEO Soumya Nettimi Talks Covid, Racial Injustice and The Future of Legal Payments: On Record PR
Hot to Get Paid: Tips and Tricks for Construction Companies in DC, MD, and VA
Thoughts on Payments Systems for Banks
This edition of Fintech Flash identifies key issues we anticipate will impact the payments industry in 2024. First, the payments regulatory landscape continues to evolve, with a number of proposed rulemakings published by the...more
In this episode of Payments Pros, Keith Barnett and Carlin McCrory are joined by Pidgin's Senior Vice President of Innovation Kevin Olsen to discuss faster payments and the FedNow service. Faster payments, such as real-time...more
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
U.S. Central Bank Launches Instant Payment Service - A recent press release by the U.S. central bank announced that “its new system for instant payments, the FedNow® Service, is now live.” According to the press release,...more
The Federal Reserve Bank announced last week that its instant payments system, FedNow, is now live with 35 banks and credit unions, which means that “[b]anks and credit unions of all sizes can sign up and use this tool to...more
The Federal Reserve has announced that its FedNowSM Service, a new interbank settlement service with clearing functionality to support instant payments, went live on July 20 with 35 early-adopting banks and credit unions. The...more
The Federal Reserve launched its new real-time payments service, FedNow®, on July 20, 2023. This new instant payment rail settles consumer and business transactions through financial institutions’ Federal Reserve accounts....more
On July 20, the Federal Reserve Board launched its FedNow service for instant payments. Banks and credit unions of any size can sign up and use the tool to instantly transfer money for their customers at any time of day on...more
The Federal Reserve (Fed) has officially launched its new instant payment service, FedNow, which aims to modernize the U.S.’s payment system. As previously discussed consumers and businesses will be able to send and receive...more
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
The Federal Reserve issued a press release announcing its plans for a July debut of FedNow, its service “to facilitate nationwide reach of instant payment services by financial institutions.” As previously discussed here, the...more
On March 15, the Federal Reserve Board announced a July launch date for its FedNow Service. Beginning the first week of April, the Fed will start formally certifying participants...more
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
The Federal Reserve’s long-awaited new payment system, FedNow, will be here and available to financial institutions sooner than we expected. In fact, many organizations have already been participating in the FedNow Pilot...more
Technology companies in the payments space should pay close attention to the Federal Reserve’s (the Fed’s) upcoming launch of a long-awaited new payment system, the FedNow Service. The system will change the consumer payments...more
After discussing the core features of the U.S. payments systems, we look at how those features have impacted the experience of U.S. business and consumers and why Prof. Awrey believes they have resulted in a payments system...more
Regulatory Developments - Federal Reserve Invites Public Comment on Proposed Principles for Large Banking Organizations to Manage Climate-Related Financial Risks - On December 2, the Federal Reserve announced that it...more
The purpose of the Durbin Amendment was to lower merchants’ costs of accepting debit cards for customer payments. Up to now, because of technology limitations, online merchants were not provided lower cost debit card...more
Our Payment Systems Team details how the Federal Reserve’s Regulation II Final Rule clarifies many of the interpretive concerns from the May 2021 notice of proposed rulemaking and narrows the substantive concerns raised by...more
In response to the Executive Order on Ensuring Responsible Development of Digital Assets issued on March 9, 2022, both the White House Office of Science and Technology Policy (OSTP) and the Treasury Department (Treasury) have...more
On August 29, the Federal Reserve Board (Fed) announced that its real-time payments system, FedNow, will launch sometime between May and July of 2023. FedNow will provide a platform on which banks can build their products....more
Earlier this week, the Federal Reserve Board of Governors narrowed the timetable for the launch of its instant payments platform—FedNow—to mid-year 2023, specifically targeting a production rollout of the service in a May to...more
In This Issue: ..The Consumer Financial Protection Bureau (CFPB) published a Consumer Financial Protection Circular 2022-04 (Circular) in relation to safeguarding consumer data under the Consumer Financial Protection Act...more
On March 1, 2022, the Federal Reserve (the “Fed”) proposed a new framework for evaluating “master account” applications for direct access to the Fed’s payment system. The proposal builds upon the Fed’s original proposal from...more
In This Issue. The Treasury Department’s Financial Stability Oversight Council (FSOC) issued a report acknowledging climate change as threat to financial stability; Federal Reserve Governor Michelle Bowman advocates for...more