The Clearing House Beat the Fed to Real-Time Payments. Now What?
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The sluggish pace of the Fed’s FedNow system has created a surge of interest in The Clearing House's Real Time Payments platform, says Steve Ledford.
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Fintech News Stories
Snip, Snip: Haircuts Are Trendy Among Central Banks
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Minutes released this week from the latest Fed meeting show there are sharp divisions among members when it comes to future policy. On a broad level, the most recent rate reduction comes amidst a global trend of cutting interest rates.
Read MoreMr. Zuckerberg Goes to Basel
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Facebook’s proposed digital currency Libra caused quite a stir — most of it negative — when it was first announced earlier this year. It’s clear that regulators and central banks have a keen interest in what Libra is, or may become, which is why Facebook honcho Mark Zuckerberg was in Basel, Switzerland earlier this week.
Read MoreReal-Time Payments Coming…at Federal-Reserve Speed
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Ten years after the UK launched Faster Payments, the US is partway through the launch of a real-time payments network run by The Clearing House, a private corporation owned by 25 of the largest banks in the country. It will be the first new rails in electronic payments in four decades.
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