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Payments

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By Lauren Greenwood
In Data, Payments, Regulation, Uncategorized
Posted October 21, 2021

FIN Response to CFPB Payments Data Orders

October 21, 2021 – Today FIN responded to CFPB orders sent to specific FIN member companies. The following statement is attributed to Brian Peters, Executive Director, Financial Innovation [...]

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By Lauren Greenwood
In Federal Reserve, Payments, Regulation
Posted August 11, 2021

FIN Urges Fed to Promote Competition in Card Payments Online

August 11, 2021 – Today Financial Innovation Now urged the Federal Reserve Board of Governors to adopt its proposed rule to promote competition in debit card routing networks online. In a [...]

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By Lauren Greenwood
In Federal Reserve, Financial Inclusion, Payments
Posted November 7, 2019

FIN Supports FedNow, Urges Federal Reserve to Act Quickly

November 7th, 2019 – Financial Innovation Now today joined many other industry stakeholders in support of the Federal Reserve’s work to build FedNow, a real-time bank settlement [...]

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By Brian Peters
In Federal Reserve, Payments, Regulation
Posted August 5, 2019

‘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 [...]

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By Brian Peters
In Federal Reserve, Financial Inclusion, Payments
Posted July 15, 2019

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 [...]

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By Brian Peters
In Payments, Regulation
Posted April 12, 2019

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 [...]

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By Brian Peters
In Payments, Regulation
Posted April 9, 2019

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 [...]

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By Lauren Greenwood
In Federal Reserve, Financial Inclusion, Mobile, Payments
Posted December 14, 2018

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 [...]

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By Lauren Greenwood
In Federal Reserve, Financial Inclusion, General News, Payments
Posted November 13, 2018

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 [...]

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By Lauren Greenwood
In Credit, Data, General News, Mobile, Payments, Regulation
Posted July 31, 2018

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 [...]

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By Lauren Greenwood
In Credit, Mobile, Payments, Regulation
Posted July 24, 2018

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 [...]

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By page.lysupportadmin
In Financial Inclusion, Payments, Uncategorized
Posted April 24, 2018

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 [...]

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By Brian Peters
In Financial Inclusion, Payments
Posted January 26, 2018

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: [...]

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By Brian Peters
In Payments, Regulation
Posted January 25, 2018

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. [...]

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By Brian Peters
In Mobile, Payments, Regulation
Posted August 11, 2017

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 [...]

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By Brian Peters
In Payments
Posted July 21, 2017

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 [...]

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By Brian Peters
In Legislation, Payments
Posted May 5, 2017

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 [...]

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By Brian Peters
In Financial Inclusion, Payments, Regulation
Posted March 10, 2017

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 [...]

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By Brian Peters
In Financial Inclusion, Payments, Regulation
Posted March 1, 2017

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 [...]

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By Brian Peters
In Financial Inclusion, Payments
Posted January 26, 2017

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 [...]

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