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The Federal Reserve Board has approved enhancements to its automated clearing house service that will require its banks to process same-day payments.
September 23 -
A task force convened by the Federal Reserve has made substantial progress in its first few months, but the path to real-time payment in the U.S. is still littered with challenges.
September 23 -
Independence Bancshares in Greenville, S.C., has raised nearly $8.5 million to help it expand its payments, technology and digital banking operations.
May 27 -
In a highly unusual initiative, small community bank Independence Bancshares has been building a real-time transactions processing system. CEO Gordon Baird hopes to attract others to use it, too.
April 30
Independence Bancshares in Greenville, S.C., has dismissed Gordon Baird as chief executive and suspended its development of a real-time payments technology.
The $104 million-asset company terminated Baird's employment on Friday, according to a
The filing did not explain why Baird and the other employees were let go.
Baird will remain a company director. He owned about 11% of Independence's stock
Additionally, Independence said it will explore strategic alternatives for assets related to its real-time payments project, including the potential purchase of intellectual property assets owned by a company affiliated with Baird.
Baird, a former Citigroup executive, joined Independence in March 2013, with backing from former Citi President and Chief Operating Officer Robert Willumstad and others.
In May, Independence
