‘FedNow’ Payment Decision is Generational Milestone
August 5, 2019 – Federal Reserve Board Governor Lael Brainard in a speech today announced the Board’s decision to invest in development of “FedNow,” a real-time interbank gross [...]
FIN to Federal Reserve: Expand ACH Payments to Improve Financial Inclusion
July 15, 2019 – FIN today urged the Federal Reserve to expand the operating hours of the ACH Same Day, which enables many new payment applications to interconnect with bank accounts. FIN’s [...]
FIN Urges States to Work With Congress to Unify Digital Money Consumer Protections
April 12, 2019 – Today FIN applauded state financial regulators for their efforts to streamline digital wallet regulations and urged them to work with Congress towards a federal solution [...]
FIN to California: Focus on Narrow Scope of Payment Regulation
April 9, 2019 – Today FIN told the California financial regulator to maintain a narrow focus when regulating payment services. In a regulatory filing, FIN argued that California should [...]
Leading Technology Companies Call on Federal Reserve to Speed Payments for All Americans
December 14, 2018 — Financial Innovation Now today called on the Federal Reserve to lead the development of real-time payments infrastructure for the modern era, available for all Americans. The [...]
U.S. Faster Payments Council Announced
The Federal Reserve today announced the formation of the U.S. Faster Payments Council (FPC), a new industry forum organized to help promote faster payments in the United States. FIN has [...]
FIN Statement on U.S. Treasury Report on Financial Technology; Leading Innovators Praise Policy Goals
July 31, 2018 – The U.S. Department of the Treasury today released a report outlining a number of policy proposals to modernize federal financial services regulations. The Treasury report aligns [...]
U.S. Report on Financial Technology – Key Takeaways
The U.S. Government Accountability Office (GAO) recently released a report on the regulation of financial technology. The report, “Financial Technology: Additional Steps by Regulators Could [...]
Industry Group Releases Faster Payments Governance Framework Draft, FIN Urges Inclusive Approach
April 24, 2018 – Under leadership of the Federal Reserve, an industry group today called for public input on a draft proposal for a new payments governance organization that aims to facilitate [...]
FIN Supports ACH Payment Expansion, Weekend and Holiday Processing
January 26, 2018 – Financial Innovation Now today supported a NACHA proposal to expand same day payments and payment processing on weekends and holidays. FIN’s comment letter states: [...]
FIN Welcomes CFPB Prepaid Rule Delay, Urges Ongoing Tech Flexibility
January 25, 2018 – Today the Consumer Financial Protection Bureau issued final changes to is Prepaid Accounts Rule, which include a delay in the effective date of the rule until April 2019. [...]
FIN Urges CFPB Flexibility on Digital Wallets; Seeks More Time on Prepaid Card Rule
August 11, 2017 – Today FIN filed comments in response to the Consumer Financial Protection Bureau’s proposed amendments to its new rule on prepaid cards. The following statement is attributed to [...]
FIN Praises Fed Momentum on Faster Payments; Calls on Congress to Ensure 2020 Date Certain for Realtime Payments
July 21, 2017 – Today the Federal Reserve Faster Payments Task Force released its final report and recommendations to achieve faster payments in the United States. The following statement is [...]
FIN Opposes CHOICE Act’s Repeal of Debit Reforms
May 5th, 2017 – Following yesterday’s Committee passage of the CHOICE Act, Financial Innovation Now expressed its significant concerns regarding language in the bill that repeals current [...]
FIN Welcomes CFPB Delay on Prepaid Rule
March 9, 2017 – Today the Consumer Financial Protection Bureau announced a proposal to delay implementation of its new rule on prepaid cards, including consideration of substantive changes [...]
FIN Expresses Significant Concern with Iowa Digital Wallet Tax
March 1, 2017 – Today Financial Innovation Now expressed significant concerns with an Iowa proposal to tax digital wallet transactions. In a letter to the Iowa House Judiciary Committee, FIN [...]
FIN Praises Fed’s Faster Payments for the Underbanked
January 26, 2017 – Today Financial Innovation Now praised the work of the Fed’s Faster Payments Task Force, in particular its benefits to the financially underserved. The Task Force today [...]
