Saturday, July 4, 2009
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The Payment Cards Center provides meaningful insights into developments in consumer credit and payments that are of interest not only to the Federal Reserve but also to the industry, other businesses, academia, policymakers, and the public at large. The center carries out its work through an agenda of research and analysis as well as forums and conferences that encourage dialogue incorporating industry, academic, and public-sector perspectives.
The following papers written by Payment Cards Center Industry specialists have been featured in the "Electronic Banking Law & Commerce Report":
Based on the research in Julia Cheney's paper, How Effective Were the Financial Safety Nets in the Aftermath of Katrina?,
the Federal Reserve Banks jointly produced the following video, Lessons from a Storm. ![]()
This video demonstrates how having a bank account proved to be a big advantage to Hurricane Katrina victims who were trying to get back on their feet and re-establish a firm financial footing.
You can find this video under the "Web Seminars & Videos" section of our "Related Resources" page.
In this issue, center director Peter Burns announces his departure from the Federal Reserve Bank and introduces his successor, Bob Hunt. This issue of Update also features summaries of several recent papers produced by the center, a summary of last year's payment card fraud conference, as well as an announcement of two new visiting scholars: Michael Staten of the University of Arizona and John Caskey of Swarthmore College.
This discussion paper, authored by industry specialist Philip Keitel, summarizes a workshop that featured Jerry Kane, manager of the Southeastern Pennsylvania Transportation Association's New Payment Technologies Project, and additional PCC research on the electronification of transit-fare payment systems. This paper addresses the challenges and opportunities SEPTA faces as it attempts to redesign its transit-fare payment system to accept payment cards and issues generally associated with modernizing transit-fare payment systems. This paper also looks at how the movement toward electronic transit-fare payment systems might influence contactless consumer payments overall.