What payment firms want from real-time’s next chapter
Real-time payments and FedNow were top of mind at The Clearing House’s Annual Convention this week. Here’s how banks and payment companies see RTP’s potential evolution.
First Foundation hires outsider as CEO amid strategy overhaul
The Dallas bank is replacing longtime CEO Scott Kavanaugh, who stepped down Thursday, with veteran banking executive Thomas Shafer. Shafer previously led Chemical Bank, which was acquired by TCF Financial in 2019.
FedNow saw $17.5 billion of transactions last quarter
The Federal Reserve released the volume of activity on its instant payments network since its launch last summer, showing a surge in usage between July and August.
Punishing workers who send remittances overseas is bad policy
A punitive tax on payments sent overseas to the families of immigrants would have a cascading set of consequences — all of them bad.