The CFPB recently issued some guiding principles for protecting consumers as the private sector develops new faster payment systems that are aimed at reducing “pocket-to-pocket” payment times between consumers, businesses or other entities. The bureau said it wants to ensure any new payment systems are “secure, transparent, accessible, and affordable to consumers. The systems should also have robust protections when it comes to fraud and error resolution,” the agency said. While American consumers benefit from and make use of these payment systems, there remain opportunities to improve efficiency, reduce transaction costs for consumers, and lessen credit and fraud risks, according to the agency. “There is also greater opportunity for consumers to have real-time information about their account balances so they ...