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Payment Systems Financial Transactions Financial Institutions

Eversheds Sutherland (US) LLP

US sanctions hundreds of targets on two-year anniversary of Russia’s invasion of Ukraine and in response to Aleksei Navalny’s...

Contemporaneous with the European Union’s adoption of its 13th package of Russia sanctions, on February 23, 2024, the United States imposed sanctions against nearly 500 targets in continued response to Russia’s aggression...more

Cadwalader, Wickersham & Taft LLP

FedNow Is Live!

The Federal Reserve Bank announced last week that its instant payments system, FedNow, is now live with 35 banks and credit unions, which means that “[b]anks and credit unions of all sizes can sign up and use this tool to...more

Troutman Pepper

FedNow Goes Live, Addressing Need for Speed in Banking

Troutman Pepper on

The Federal Reserve (Fed) has officially launched its new instant payment service, FedNow, which aims to modernize the U.S.’s payment system. As previously discussed consumers and businesses will be able to send and receive...more

Orrick, Herrington & Sutcliffe LLP

Fed to launch FedNow in July

On March 15, the Federal Reserve Board announced a July launch date for its FedNow Service. Beginning the first week of April, the Fed will start formally certifying participants...more

Miller Nash LLP

FedNow—The Fed Announces Launch Timeline and Pricing

Miller Nash LLP on

The Federal Reserve’s long-awaited new payment system, FedNow, will be here and available to financial institutions sooner than we expected. In fact, many organizations have already been participating in the FedNow Pilot...more

Hogan Lovells

Global Payments Newsletter, August 2021

Hogan Lovells on

Key developments of interest over the last month include: Brazil: Central bank publishes details of push towards Phase 2 of Open Banking - United Kingdom: PSR launches Digital Payments Initiative - Estonia:...more

Ballard Spahr LLP

The Federal Reserve’s Entry into Real-Time Payments

Ballard Spahr LLP on

Real-time payments (RTP) has been the rave of recent payments industry news. With the Federal Reserve announcing that it is about to embark upon the creation of a ubiquitous real-time payments framework, the topic is...more

BCLP

What is Open Banking, and What are its Implications?

BCLP on

This post is the first in a series discussing open banking, its implementations, and its implications. “Open banking” is a phrase that has been coined to capture a current theme in financial sector innovation – one that...more

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