A look at the future of the retail banking industry by the president of the Cleveland Federal Reserve Bank. President Jordan explains that as technology and deregulation transform the financial marketplace, it will be critical to understand the services that people desire and to explore banks'...

Technology, market consolidation, international competition, and new legislation are changing the face of the financial services industry. How are the agencies responsible for ensuring the safety and soundness of our financial system responding? This Commentary is adapted from a keynote address...

Millions of Americans have no traditional banking relationship. Recent changes in government policy have required a new look at how financial institutions can serve the nation's unbanked population. To win these potential customers over, banks must continue to tailor products and services to...

An analysis of the surge in bank credit-card lending and the resulting rise in credit-card losses, which causes some banks to have higher charge-off rates than others because of different loan risks.

An examination of the payment problems that will have to be overcome as the electronic marketplace evolves, including the issues of trust between buyer and seller, security of payment instruments, individual privacy versus law enforcement concerns, and the implications for monetary policy.

An examination of how much Federal Reserve Banks should charge for daylight overdrafts. A low fee involves questions of moral hazard in central banking, while a high fee raises questions about risk myopia in private credit markets.

This commentary explains the phenomena of path dependence, hysteresis, and network economies using lively historical and contemporary examples. The author shows how the path dependence and network economies can interact to produce a variety of undesirable ends-inefficient payment systems, the...

Despite the increasing use of credit and debit cards and the emergence of various electronic payment instruments, currency remains king-at least for small-dollar-value transactions. The author examines the Federal Reserve's present role in providing currency and explores the challenges and...

A description of the U.S. payments system, outlining its evolution and examining some of the areas where improvements are needed.

A comparison of Fedwire, CHIPS, and GlobeSet payment services for 24-hour global markets, emphasizing the constraining influence of the Federal Reserve's monetary policy responsibilities on Fedwire's market share.