Federal Reserve

Fed Vice Chairman Resigns

Fed Chair Janet Yellen needs a new No. 2. Today, Stanley Fischer submitted his resignation as vice chairman and as a member of the Board of Governors of the Federal Reserve System.

Faster Payments Task Force Sets Ambitious Goal for 2020

The Fed’s Faster Payments Task Force isn’t kidding when it says it wants every U.S. consumer and business to be able to accept faster payments by 2020. It’s an ambitious plan, no doubt. But with the release of its final report on July 21, detailing 16 proposed faster payment solutions and outlining possible approaches, the task force is making a serious call to action.

Are Passwords Here to Stay?

Even as security experts lobby for tighter authentication, a study demonstrates that passwords still command the loyalty of consumers. A payments expert discusses why biometrics and other methods lag behind the warhorse of digital protection.

Fed Highlights Progress toward Faster, Safer Payments

A 2-year-old Federal Reserve plan to improve the speed, efficiency and security of the U.S. payments system has made significant strides toward those goals, but there’s more work to do, according to the Fed’s latest progress report on the initiative. First announced in a January 2015 document titled Strategies for Improving the U.S. Payment System, the plan includes several strategies to enhance the U.S. payment system to “meet the changing demands of American consumers and businesses.”