News & Analysis as of

Federal Reserve Payment Systems FinTech

Sheppard Mullin Richter & Hampton LLP

Kansas City Federal Reserve Bank Explores Regulatory Risks in Gaming Ecosystems

On April 9, the Federal Reserve Bank of Kansas City published a research briefing examining how video game platforms are reshaping the digital payments landscape. As in-game purchases and platform-based transactions grow in...more

Jones Day

Stablecoin Legislation: A Stroke of GENIUS?

Jones Day on

President Trump's recent executive order "Strengthening American Leadership in Digital Financial Technology" promoted the development of dollar-backed stablecoins as official U.S. policy. To facilitate this policy, Congress...more

Davis Wright Tremaine LLP

New Administration Outlook: An Opening for a National Payments/Fintech Charter – and a Pathway to Financial Modernization?

Recent announcements by Trump Media and Technology Group (TMTG) and X might signal that financial modernization may have finally reached a tipping point. With the right regulatory environment, fintechs and other new market...more

Davis Wright Tremaine LLP

National Trust Banks – Revisited for Crypto and Payments

In the absence of modern charters and licenses, payments companies and other fintechs—both established financial services providers and new market entrants—must generally obtain 50+ money transmitter and possibly other state...more

Goodwin

Payment Trends in 2024

Goodwin on

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

Troutman Pepper Locke

The Future of Payments: Exploring FedNow With the Payments Professor — Payments Pros – The Payments Law Podcast

Troutman Pepper Locke on

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

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

Wilson Sonsini Goodrich & Rosati

Money in 2023: What Tech Companies Need to Know About Instant Payments and FedNow

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

Eversheds Sutherland (US) LLP

What FedNow means for faster payments in the US

The Board of Governors of the US Federal Reserve announced in August 2019 that it will develop a new 24x7x365 real time gross settlement (RTGS) system called FedNow. The new system will allow near-instant settlement of...more

Perkins Coie

Blockchain Week in Review - December 2019 #2

Perkins Coie on

U.S. Developments - Federal Reserve Governor Speaks on Stablecoins and Related Risks - On December 18, 2019, Governor Lael Brainard of the U.S. Federal Reserve delivered a speech entitled “Update on Digital Currencies,...more

Nutter McClennen & Fish LLP

Fintech in Brief: Federal Reserve Announces Plan to Develop A Real-Time Payment and Settlement Service

On August 5, the Federal Reserve Board announced that it will develop a new 24x7x365 real-time payment and settlement service to support faster payments in the United States. In a speech at the Federal Reserve Bank of Kansas...more

Nutter McClennen & Fish LLP

Fintech in Brief: The Clearing House Announces Adoption of Business Principles for Operation of the RTP® Network

On March 28, 2019, the Supervisory Board of The Clearing House Payments Company L.L.C. (“TCH”) released its “Business Principles for the RTP® Network” (the “Principles”) outlining the operation of TCH’s RTP® Network (the...more

A&O Shearman

US Federal Reserve Board Vice Chairman for Supervision Randal Quarles Delivers Remarks on Prudent Innovation in the Payment System

A&O Shearman on

Vice Chairman for Supervision of the US Federal Reserve Board Randal Quarles provided remarks at the 2017 Financial Stability and Fintech Conference regarding innovation in the payments system. Vice Chairman Quarles noted...more

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