FedNow Service is an Opportunity for Blockchain

This past Monday, the Federal Reserve Board announced that it plans to develop a new “round-the clock real-time payment and settlement service” called “FedNow Service” that will make it easier and faster to pay bills and transfer money. Because of the advent of new technological advancements such as blockchain, the Federal Reserve has the capacity to modernize the United States’s payment system so that it is both safe and efficient. 

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Cybersecurity Still an Issue within Banks

A recent Accenture report surveying hundreds of senior banking security executives around the world, Building Confidence: Solving Banking’s Cybersecurity Conundrum, reveals that cybersecurity threats for banks and other financial services institutions remain a pervasive problem despite general bank confidence.

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FDIC Announces Youth Savings Pilot Symposium

The Federal Deposit Insurance Corporation (FDIC) has announced that it will host a symposium on developing youth savings on Friday, October 21, 2016. The symposium, “Learning to Save – Saving to Learn,” will unite representatives from almost 20 bank participants in the FDIC’s Youth Savings Pilot program, alongside non-profit and school partners. Participants will convene ideas for merging financial education with the opportunity to open a savings account.

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Equal Pay Day

This year April 12 marks Equal Pay Day, a day representing how far into the new year women have to work to earn the same amount of money men did the previous year. Almost three-and-a-half months into 2016 women finally equaled men’s 2015 earnings, due to the pervasive 27 percent gender pay gap that sees women earning 79 cents to every man’s dollar. Continue reading