Payments System

The Federal Reserve Bank of Minneapolis, along with the other 11 Federal Reserve banks, works to assure the smooth movement of funds between banks, savings and loans and credit unions through a nationwide electronic payments system. The Minneapolis bank also provides financial institutions in this bank's region with an adequate supply of coin and currency and destroys worn and damaged currency.

PIOOPIOO Mission Statement

Support the Federal Reserve Banks' mission in the payments system through effective industry outreach and payment standards development work conducted locally, nationally, and internationally.


Staff Details

Claudia Swendseid
Senior Vice President

2014 Payments Fraud Survey

The Federal Reserve Banks of Minneapolis, Boston, Chicago, Dallas, and Richmond are sponsoring the 2014 Payments Fraud Survey. We are asking many regional and national associations for their help in reaching out to their members to participate in this survey, which addresses payments-related fraud experiences of financial institutions and businesses. Your organization’s response to this survey will help us better understand new or continuing challenges with payments fraud, as well as methods used to reduce fraud risk.

View a copy of the 2014 Payments Fraud Questionnaire.

To participate in the online survey, click on the link below or copy and paste the link in your browser.

Register and attend a complimentary on-demand webinar:

Keeping Up with Fraudsters: What You Need to Know
Fraud is a serious threat to payment system efficiency. Financial institutions and their customers are prime targets of fraud schemes.  As payment instruments and processes evolve, so do fraud attacks. Do you know which payment types are most vulnerable? What fraud schemes are most prevalent? Are you using “best practice” fraud mitigation techniques to protect your organization and customers? What barriers prevent the financial services industry from eliminating payments fraud?

This webinar will answer these and other questions by reviewing national fraud data, trends and findings from the 2012 Federal Reserve Payments Fraud Survey. Don’t miss this opportunity to arm yourself with practical tips to strengthen your defenses and better serve your customers.

This webinar is sponsored by the Payments Information and Outreach Office at the Federal Reserve Bank of Minneapolis. The webinar is about 35 minutes in length.

Recent reports and information by the Payments Information and Outreach Office at the Minneapolis Fed

The Remittance Coalition

The Remittance Coalition is a group of organizations and individuals working together to promote greater use of electronic business-to-business (B2B) payments and electronic remittance data exchanges. The Coalition accomplishes this objective by addressing various problems and barriers that make it difficult for businesses to use electronic alternatives to paper checks and remittance advices.

Learn more and find all documents related to the coaltion on The Remittance Coaltion web page.