The Federal Reserve released a report on its initiative to provide real time payments by 2020; the report was created by a task force of over 300 industry contributors; the report, titled, "The U.S. Path to Faster Payments: A Call to Action" outlines payment processing proposals, the task force's vision and goals for the initiative; details on the payments initiative can also be found at FasterPaymentsTaskForce.org. Source
Yesterday, two major reports were published on the p2p lending industry. First, the Federal Reserve Bank of Cleveland put out...
The Federal Open Market Committee (FOMC) announced on Wednesday that it would leave its federal funds rate unchanged; the Fed increased the rate to 0.50% to 0.75% at its last meeting in December and predictions have called for more aggressive increases in 2017 however it seems they may be later in the year; Janet Yellen speaks before Congress in February and the market is currently reporting an 18% probability of an increase in March at the FOMC's next meeting. Source
While America remains the richest economy in the world it is also the one where it is the most expensive...
According to new data from the Federal Reserve mobile payments have seen a big growth among consumers but fraud has also risen; the shorter clearing period looks to have opened banks on the Zelle network to more potential for fraudulent transactions; Zelle has been using multi-layer and multi-factor authentication during the enrollment process; as banks look to innovate to suit their customer needs they are also looking at newer ways to protect themselves against threats that are evolving just as quick. Source.
Christopher Giancarlo, the former chairman at the Commodity Futures Trading Commission, said at a recent forum that the Federal Reserve...
The Federal Reserve has released a report titled "Small Business Credit Survey Report on Startup Firms" with findings based on the 2016 Small Business Credit Survey which surveyed companies less than five years old with more than one and fewer than 500 employees; findings show that these companies face greater funding challenges than mature companies; report compares financing statistics of startups and mature companies; also reports on sources of funds noting that medium to high credit risk startups were more likely to apply for loans from online lenders and only 11% of low credit risk startups sought online loan financing. Source
The head of the OCC, Joseph Otting, has been personally lobbying big bank CEOs to win support for his plans...
The Federal Reserve has finally opened up the Main Street Lending Program for registration; this is the program targeted towards...
A new survey by 12 Federal Reserve banks says 35 percent of small business owners who received loans from fintech...