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Federal Reserve Bank of Philadelphia is in the Financial Services Industry
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Federal Reserve Bank of Philadelphia President/CEO Charles Plosser Speaks at NYU Stern's Society for Financial Econometrics Conference on June 5
NEW YORK -- At NYU Stern School of Business on June 5, 2008 from Noon-1:30 pm, Charles I. Plosser will discuss the tremendous growth and innovation in financial markets worldwide and how they relate to the central bank's role in financial stability. He will highlight how developments in finance theory...
Sarbanes-Oxley Compliance and Violation: An Empirical Study
The purpose of this paper is to empirically examine the financial and governance characteristics of firms under the new Sarbanes-Oxley SOX accounting regime. The paper first compares a comprehensive set of characteristics across firms in four states regarding SOX Section 404 compliance (Compliance, Concerns-Raised, Noncompliance, and Violation). The paper then...
Will Online Bill Payment Spell the Demise of Paper Checks?
Over the past several years, the emergence and adoption of electronic payment instruments have acutely affected check usage. Today, the rapid growth of online bill payment looks to threaten checks' last redoubt. However, bill payment technology is still in its adolescence; the interplay of many stakeholders in the industry, including...
The Federal Reserve Bank of Philadelphia implements its own process for enterprise risk management
In 2003, the Federal Reserve System emphasized the importance of risk management by creating an ERM guidance document providing direction and defining a common risk language. In 2004, Spyro Karetsos, the Philadelphia Fed's enterprise risk management officer, developed an ERM implementation guide to plan Philadelphia's approach to integrating existing risk-based...
Advertising, Intangible Assets, And Unpriced Entertainment
This paper explains two aspects of advertising: its role in supporting entertainment and news, and its role as an investment. The author argues that in both roles advertising's contribution to output is being under measured in the national income accounts. In some cases one unit of nominal advertising input should...
Pricing, Production, And Persistence
Though built with increasingly precise microfoundations, modern optimizing sticky price models have displayed a chronic inability to generate large and persistent real responses to monetary shocks. This is an ironic finding, since Taylor [1980] and other researchers were motivated to study sticky price models in part by the objective of...
Assessing the Impact of Electronic Benefits Transfer: On America's Communities and the U.S. Payment System
As electronic benefits transfer EBT continues to expand in breadth and depth, this document addresses two important questions, which arise. It examines the impact EBT economics and technology had on United States' payment systems and communities. As more benefit programs and payments convert from paper-based to card-based systems, the paper...
Protecting Yourself Against Identity Theft
Identity theft is a growing form of fraud that occurs when an unauthorized person uses your personal information, such as your name, Social Security number, bank or credit account numbers, or other identifying information, without lawful authority, to commit financial fraud. In its most damaging form, identity theft can mean...
Payment System Regulation and How It Causes Consumer Confusion
A workshop led by Professor Mark Budnitz of Georgia State University School of Law. Budnitz described how the regime of consumer payment regulation and various new payment products have led to much confusion among consumers. He also discussed a remedy for this situation: the adoption of uniform federal consumer protection...
Transactions Accounts and Loan Monitoring
This paper provides evidence that transactions accounts help financial intermediaries monitor borrowers by offering lenders a continuous stream of data on borrower's account balances. This information is most readily available to commercial banks, but other intermediaries, such as finance companies, also have access to such information at a cost. It...
Electronic Funds Transfer Association and the Federal Reserve Bank of Philadelphia Will Co-Host Electronic Benefits Transfer Conference
HERNDON, Va. and PHILADELPHIA -- Two-Day Event Will Assess the Impact of Electronic Benefits Transfer EBT on America's Communities and the U.S. Payment System
Prepaid Cards: How Do They Function? How Are They Regulated
The conference brought together representatives from eight major banks, seven national retailers, three state governments, three federal regulators, a score of providers of prepaid card services, and a number of legal professionals to discuss the development of the prepaid card market and its regulation. This summary of the conference is...
Prepaid Cards: How Do They Function? How Are They Regulated?
On June 3, 2004, the Payment Cards Center of the Federal Reserve Bank of Philadelphia hosted a conference on prepaid cards to discuss the development of the prepaid card market and its regulation. This paper summarizes the discussions held in conference. The paper is structured examines how do prepaid cards...
Identity Theft: Where Do We Go From Here?
This paper discusses identity theft, which is a growing financial crime that affects many segments of our society - consumers, merchants, and credit providers, among others - with direct financial losses. In addition, consumers, in particular, are faced with significant indirect costs stemming from the compromise of their credit files....
The Debate Over the National Bank Act and the Preemption of State Efforts to Regulate Credit Cards
The regulator of national banks, the OCC, issued a rule that interprets the act as essentially preempting most state efforts to protect credit card consumers. State attorneys general, consumer advocates, and members of Congress have charged that the OCC's ruling is overly aggressive and results in bad public policy. This...
Prepaid Card Markets & Regulation
Prepaid cards, also commonly referred to as stored-value cards, are typically credit card-sized pieces of plastic that contain or represent an amount of pre-loaded value. Despite significant product innovations, it is unclear whether and how existing federal and state laws that apply to other financial products apply to the different...
Identity Theft: A Pernicious and Costly Fraud
This paper follows with a broad study of identity theft, at times compared with traditional payment fraud, and continues with an evaluation of its overall risk to consumers, merchants, and credit providers. The paper compares the incentives each such party has to address identity theft in concert with current market...
Consumer Bankruptcy: How Unsecured Lenders Fare
This paper offers a brief overview of consumer bankruptcy and the rights of unsecured creditors that lend money to individuals who ultimately file for bankruptcy. It also discusses the proposed amendments to the bankruptcy code being debated in Congress. Finally, the paper concludes with a assessment of how unsecured lenders,...
Changes in the Use of Electronic Means of Payment: 1995-2001
This document updates table based on data from the 2001 Survey of Consumer Finances conducted on the use of electronic banking. This document updates the statistics indicating how the use of various means of electronic payment has changed between 1995, 1998, and 2001. It notes that the use of electronic...
Measuring Credit Card Industry Chargeoffs: A Review of Sources and Methods
The percentage of credit card loans that are charged off by card issuers during a particular month or quarter is an important metric. It provides insights into the financial health of the credit card industry and the U.S. consumer. After offering a brief overview of credit card charge-off reporting, this...
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- Finance (21 results)
- Financial Services (13 results)
- Operational Accounting (12 results)
- Payment (12 results)
- Business Operations (9 results)
- Credit Card (9 results)
- Sales Channel (7 results)
- Sales (7 results)
- Financial Accounting (6 results)
- Financial (5 results)
- Security (5 results)
- Electronic Payment (5 results)
- Financial Planning (4 results)
- Industry (4 results)
- Strategy (4 results)
- Management (4 results)
- Regulations (4 results)
- Government (4 results)
- Consumer Credit (4 results)
- Litigation (4 results)
- Marketing (3 results)
- Privacy (3 results)
- Pricing (3 results)
- Identity Theft (3 results)
The Federal Reserve Bank of Philadelphia, District No.3 formulates and conducts monetary policy; participating actively in the payments mechanism, including large-dollar transfers of funds, automated clearinghouse operations and check processing; fiscal agency functions for the U.S. Treasury and certain federal agencies; serving the consumer and the community by providing educational materials and information regarding consumer laws; supervising bank holding companies, and state member banks; and administering other regulations of the Board of Governors. As of Dec. 31 2005, Co. had $34,783,000,000 total assets and $489,000,000 total deposits.
Key Competitors
Federal Reserve Bank of Philadelphia Company Info
Board of Directors
Ronald J. Naples
Chmn.
P. Coleman Townsend Jr.
Robert E. Chappell
Walter E. Daller Jr.
Doris M. Damm
William F. Hecht
Garry L. Maddox
Ronald J. Naples
Eugene W. Rogers
Kenneth R. Shoemaker
Contact Information
10 Independence Mall
Philadelphia, PA
http://www.philadelphiafed.org
215 574-6000
NAICS Code
Monetary Authorities-Central Bank: 521110
