The results suggest that even as financial institutions implement more sophisticated fraud-mitigation techniques, they have not been keeping pace with criminals.
The central bank said Wednesday that it will assess a range of options regarding its operational role in a modernized payment system, an issue that divides large and small banks.
Banks are often pressured to compete with third party mobile wallets to protect their brands. But it's unclear if that strategy is helpful in attracting consumers.
A group of credit unions is working to get a jump how real-time payment processing fits into their world, even as the broader payments industry wrestles with questions about the technology's implementation.
The migration has been slow, but COOP Financial Services says there's momentum for adoption and usage. There are also signs that card fraud risk is improving.
