U.S. Federal Reserve Considers Taking FedNow Global
The real-time payments system FedNow has rapidly gained from over 1,600 financial institutions across the United States. However, these participants have so far been restricted to using only Reserve Banks as intermediaries. This limitation has prevented banks and credit unions from leveraging the network for cross-border payments. The U.S. Federal Reserve, which operates FedNow, is […]
Facing a Precarious Economy, Gen Z Turns to Credit
Despite faltering credit scores, Gen Z is charging ahead—literally—opening credit card accounts at higher rates than any other generation. In the past year, more than one in four of American adults ages 18 and 29 got at least one new card, underscoring the tough choices and high-stakes gamble facing both young consumers and the issuers […]
As Fraud Escalates, Taking a Beat Becomes a Critical Defense
There has been little respite from the relentless onslaught of fraud in recent years—and there are few signs of it slowing down. The FBI’s annual Internet Crime Report found that Americans lost nearly $21 billion last year, soaring to an all-time high. At the same time, the Internet Crime Complaint Center (IC3) received 1,008,597 complaints, […]