The U.S. Treasury Department said artificial intelligence (AI) has helped fuel a fraud/improper payments recovery. The department announced Thursday that its “technology and data-driven” approach allowed it to prevent and recover more than $4 billion in fraud and improper payments, up from $652 million during...
Financial institutions and payment service providers hit the ground running when the Federal Reserve launched the FedNow Service on Thursday (July 20). Many had new offerings ready to go using the nationwide payments infrastructure, which was the first to be implemented in about 40 years. At the time of...
A federal agency is proposing more limits to the government’s use of paper checks. In a notice of proposed rulemaking (NPRM) that is to be published in the Federal Register on Tuesday (Jan. 10), the Treasury Department’s Bureau of the Fiscal Service said that present...
November 21, 2024
The Bank of New York Mellon (BNY) will serve as the financial agent for the Direct Express program, which provides 3.4 million Americans with a prepaid debit card to receive monthly federal benefits. The U.S. Department of the Treasury’s Bureau of the Fiscal Service said in a Thursday (Nov. 21) press release that it selected […]
October 17, 2024
The U.S. Treasury Department said artificial intelligence (AI) has helped fuel a fraud/improper payments recovery. The department announced Thursday that its “technology and data-driven” approach allowed it to prevent and...
July 20, 2023
Financial institutions and payment service providers hit the ground running when the Federal Reserve launched the FedNow Service on Thursday (July 20). Many had new offerings ready to go using the nationwide payments infrastructure,...
January 09, 2023
A federal agency is proposing more limits to the government’s use of paper checks. In a notice of proposed rulemaking (NPRM) that is to be published in the Federal Register...
