Press Releases
Media Contact
Reporters and members of the media with inquiries about products or services of Federal Reserve Financial Services (FRFS) can contact us at E: FRFS.Media@chi.frb.org. Please include a requested deadline to respond.
2026
Federal Reserve Financial Services Chief Payments Executive Mark Gould to Retire
May 28
2026 Diary of Consumer Payment Choice: Consumer habits hold steady as payment options grow
May 11
FedNow® network intelligence API empowers participants to send payments with confidence
April 23
Financial institutions report rising fraud trends across all major payment channels as criminal tactics evolve, risk officer survey finds
April 22
Federal Reserve Financial Services to take new actions to support penny circulation
January 08
2025
Federal Reserve Board requests public input on the impact of potential strategic changes to check services provided by the Fed, as well as check usage and preferences (Off-site)
December 04
Federal Reserve Board announces pricing, effective January 1, 2026, for payment services the Federal Reserve Banks provide to banks and credit unions (Off-site)
December 04
Federal Reserve Board announces expanded operating days of two large-value payments services, Fedwire® Funds Service and the National Settlement Service (NSS), to include Sundays and weekday holidays (Off-site)
October 09
Federal Reserve Financial Services introduces APIs to boost efficiency and enhance customer experience
October 08
FedNow® Service will raise transaction limit to $10 million to meet increased demand, unlocking higher-value use cases
September 09
Federal Reserve Financial Services completes ISO® 20022 migration for Fedwire® Funds Service, advancing U.S. payments modernization
July 15
FedNow® Service launches new risk mitigation features and $1 million transaction limit
June 24
Federal bank regulatory agencies seek comment to address payments and check fraud (Off-site)
June 16
2025 Diary of Consumer Payment Choice reveals cash remains relevant in an increasingly digital economy
May 13
2024
Federal Reserve Board approves fee schedule for Federal Reserve Bank priced services (Off-site)
November 22
New FedDetect® offering tackles commercial check fraud to help financial institutions detect duplicate activity at no additional cost
November 13
Federal Reserve Board – Federal Reserve Board announces it will extend until September 6, 2024, the comment period on proposal to expand operating days of the Federal Reserve Banks’ two large-value payments services, Fedwire Funds Service and the National Settlement Service (Off-site)
June 21
2024 Findings from the Diary of Consumer Payment Choice highlight increased payments and stable demand for cash since the pandemic
May 13
Federal Reserve surveys: U.S. businesses, consumers increasingly adopt faster and instant payment services
May 06
Federal Reserve Board – Federal Reserve Board requests comment on proposal to expand the operating days of the Federal Reserve Banks’ two large-value payments services, Fedwire Funds Service and the National Settlement Service, to include weekends and holidays (Off-site)
May 03
Federal Reserve Financial Services introduces FedNow® User Group to promote collaboration, engagement among more than 600 FedNow participants
March 14
Federal Reserve Financial Services launches new ACH risk management service to help financial institutions detect atypical activity
January 25
2023
FedNow® Service ends 2023 on a strong note with more than 300 participating financial institutions on board
December 14
Federal Reserve Board approves fee schedule for Federal Reserve Bank priced services (Off-site)
November 17
Federal Reserve Announces Broad Availability of E-Manifest Service to Bring Greater Transparency, Efficiency to U.S. Cash Supply Chain
October 26
FedNow® Service hits new milestone with more than 100 participating organizations
October 03
FedNow® Service Industry Work Group Issues Market Practices for Request for Payment
September 26
The Federal Reserve announces that its new system for instant payments, the FedNow® Service, is now live.
July 20
Federal Reserve Names Organizations Certified as Ready for FedNow® Service
June 29
Federal Reserve Surveys: U.S. businesses, consumers want faster payment options to help navigate evolving needs
May 24
Consumer payment survey shows continuation of pandemic trends, including rising credit card usage and enduring demand to hold cash
May 19
Federal Reserve releases data on noncash payments in 2021 (Off-site)
April 26
The Federal Reserve Announces July Launch for the FedNowSM Service
March 15
2022
Federal Reserve Board approves fee schedule for Federal Reserve Bank priced services (Off-site)
November 04
Federal Reserve launches service to help financial institutions track trends for payments settled through its FedACH® Service
September 19
Federal Reserve updates FedNowSM Service timing to mid-2023, marks beginning of full-scale pilot testing
August 29
Federal Reserve Board announces final timeline and implementation details for adoption of new Fedwire Funds Service message format (Off-site)
June 27
Federal Reserve survey: Consumers demanding faster payment options to fit their digital, always-on lives
May 16
FedNowSM Service Pilot Program Achieves Message Delivery Milestone, Welcomes New Participants
May 02
More than 70 organizations showcase instant payments solutions for FedNowSM Service implementation
March 08
Federal Reserve Announces FedNowSM Service Pricing Approach, Credit Transfer Limit
January 27
2021
Federal Reserve Issues Update to Payments Study (Off-site)
December 22
Federal Reserve Board approves fee schedule for Federal Reserve Bank priced services (Off-site)
December 02
Federal Reserve Launches New Service to Provide Alerts on Potential Duplicate Check Deposits
November 15
Federal Reserve Launches New Tools and Support to Accelerate Industry Readiness for Instant Payments
October 20
Federal Reserve Board announces the Reserve Banks will adopt a new message format for the Fedwire® Funds Service and invites public comment on proposal to expedite adoption (Off-site)
October 04
Federal Reserve Survey: Businesses Increasingly Demand Faster Payments that Match the Speed of Digital Commerce
August 31
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