Latest news with #TCH
Forbes
17-07-2025
- Business
- Forbes
Real-Time Payments Are Soaring In The U.S.
Close up of network data flowing on black background. getty The U.S. was slow getting to real-time payments, but the businesses and individuals are taking them up in a big way, using primarily the private sector RTP rails from The Clearing House (TCH). The number of real-time payments and their size of the payments has risen sharply in the last quarter. TCH which operates the largest instant payments system in the United States said today that it averages 1.18 million payments each day, worth $481 billion, a 195% leap in value from the previous quarter. Since it increased the maximum transaction limit from $1 million to $10 million in February, the average transaction has grown from $842 in January to more than $4,000 by June, a 376% increase. 'We currently have over 30,000 businesses that are originating RTP payments on the network each and every month and over 6 million consumers,' said Jim Colassano, senior vice president of RTP Business Product Management at TCH. Jim Colassano, SVP of RTP Business Product Management at TCH David Beyda, Courtesy The Clearing House 'They're using it not only because of the speed but because of the breadth of functionality that it offers. It's available 24 hours a day. You can make a payment precisely when you want to make it. So, if you want to make an instant payment next Thursday at two o'clock in the morning, you can do that.' Some of the new uses of RTP, such as payroll, have surprised him. 'I thought that once we got to direct deposit of payroll and payroll cards, we were done.' The gig economy and earned wage access as an alternative to payday loans have changed that. Gig workers can get paid immediately after their shift, and increasingly through earned wage access workers can get paid for work they have done before the traditional payroll schedule. The precision of RTP has also attracted small businesses concerned about cash flow. They can specify the exact time a payment is made, so they don't have to send a check several days ahead because they don't know how long a check will take in the mail and then to clear. Corporations are using RTP to improve customer experience. So for example if they have an irate customer on the phone they can offer to settle a dispute and before the customer gets off the phone the money is in her account. 'Technology firms are creating a more dynamic user experience,' said Colassano, 'and we are seeing a generational shift in expectations.' ACH, which was developed in the early. 1970s, was built to move funds in bulk and in batch while today's users increasingly expect immediacy in payments. RTP funds are irrevocable, so the receiver doesn't have to worry non-sufficient funds or a sender trying to cancel the transaction and demand the money back. The receiver can draw on the funds immediately and the sender receives confirmation the payment has been made — seven days a week, nights, weekends and what used to be called bank holidays. The cost for this varies by bank, but the network charges 4.5 cents per transaction, a price it lists on its website. Only banks can access the network, and they are free to mark up the price of transactions. RTP makes a big difference to banks in time sensitive businesses like mortgages which have had to deal with a bank payment system that worked on East Coast hours. 'When you're closing on one coast and your financing agent is on the other coast, it gets problematic and presents an incredible amount of risk to the industry,' Colassano said. Using RTP that operates 24 hours a day just eliminates the problem of time zone differences. About 45 percent of the transaction on the RTP network occur outside regular banking hours, said Gregory MacSweeney, spokesman for TCH. Real estate deals made up some of those transactions — closings, earnest fund refunds, construction loans payouts, fees to agents and to title companies, all manned by professionals who often work outside regular office hours. It's also used by innovative car companies like Cross River Bank and Carvana which sell cars through a combination of internet listings and direct delivery to a customer. They use RTP and its request for payment to transfer funds immediately upon pickup or delivery of a vehicle. In the early days of RTP, Colassano had to explain to banks and corporates what it was and how it worked. Now he no longer has to explain instant payments, and instead he talks about use cases, including transferring funds from closed loop systems to bank accounts. One of their first big users of the real-time payments network was PayPal. Other closed loop systems with digital wallets, such as gaming sites, have also made use of RTP.
Business Wire
16-07-2025
- Business
- Business Wire
Texas Card House Celebrates 10 Years of Poker and Second Season of Trailblazer
AUSTIN, Texas--(BUSINESS WIRE)--Texas Card House first opened its doors 10 years ago in Austin, Texas. The private poker club became the first of its kind. Since then, the company has grown into a leading chain of entertainment venues, setting a new standard for the poker experience. The success of their inaugural proprietary tournament, Trailblazer, underscores the brand's expertise and commitment to delivering top-tier poker experiences. Share With six locations operating 24/7 across Texas, Texas Card House has built a strong reputation among players of all levels. Each venue offers unique features and promotions designed to appeal to everyone—from casual and beginner players to seasoned professionals. The Social locations in Austin and Las Colinas elevate the experience even further, offering full-service fine dining that enhances every visit. Private rooms and full-floor rental options make Texas Card House an exceptional choice for corporate events, bachelor parties, and group outings. The success of their inaugural proprietary tournament, Trailblazer, underscores the brand's expertise and commitment to delivering top-tier poker experiences. The tournament was a resounding success. The tournament tour made stops at all 6 locations giving out $7 million along the way. There were over 18,000 entries and high stakes games every day for the chance to win $1 million and a Chevy Trailblazer SUV at the final table. Texas Card House has just announced the second season of the Trailblazer Tournament tour along with the dates of each stop. There is already a lot of buzz and anticipation not only across Texas but around the world. The excitement is palpable as TCH ambassadors, including last season's winner Mallory Klaus, represented Texas Card House at the World Series of Poker in Las Vegas. As updates and information about the second season of the Trailblazer Tournament tour are released, Texas Card House will continue to captivate new audiences and further establish its reputation. For more information on events, promotions, and poker offerings, visit About Texas Card House: Texas Card Houses are the premier poker destinations of Texas. Featuring up to 70 poker tables, craft cocktails, an upscale atmosphere, and full-service restaurants at their Social locations. Texas card house provides an exceptional environment for all levels of players and invites you to experience a new level of excitement and entertainment
Time of India
20-06-2025
- Health
- Time of India
Inside the Texas Children's Hospital trans care whistleblower case: One year of fallout and unanswered questions
Credit: X/Vanessa Sivadge It's been exactly one year since nurse Vanessa Sivadge ignited a political and legal firestorm by accusing Texas Children's Hospital—America's largest pediatric care center—of secretly continuing gender transition treatments for minors in violation of state law. What began as a whistleblower interview has since spiraled into FBI visits, criminal indictments, legislative inquiries, and the quiet departure of a once-revered CEO. Here's how the case unfolded and what has happened since the revelations came to light. June 2024: Vanessa Sivadge goes public On June 23, 2024, the New York Post published an interview with Vanessa Sivadge, 31, a former nurse at Texas Children's Hospital (TCH). In the interview, Sivadge alleged that doctors at TCH continued to perform gender-affirming care on minors despite state law and public assurances that the program had been shut down. 'These doctors are driven by a political agenda, like an ideological agenda,' she told the Post. 'And I truly believe that they think that they're doing the right thing.' She further alleged that doctors manipulated parents into consenting to medical transition by invoking suicide threats. 'Parents were manipulated by doctors with an ideological agenda to go down this path of medical transition for their child,' she said. 'And I do think that doctors would use manipulative language to suggest that if they didn't do this their child would commit suicide or they would harm themselves.' According to Sivadge, doctors bypassed Texas' Medicaid restrictions by misdiagnosing minors with hormone deficiencies so that puberty blockers and hormone therapies would be covered. 'There was just no discussion of what are the risks, what are the long-term effects,' she said. 'Many of [the patients] had previous ER visits for attempted suicide, many of them are autistic, many of them are depressed and anxious, and that's really devastating because it's really clear there's something else going on.' The FBI shows up Following her public disclosures, Sivadge said she was visited by two FBI agents. Video footage shared by Christopher Rufo on X (formerly Twitter) shows two plainclothes agents at her door. One agent can be heard saying: 'I'm sure you're aware of some of the things that have been going on at your work lately.' Sivadge told Rufo, 'They threatened me. They promised they would make life difficult for me if I was trying to protect the leaker. They said I was not safe at work and claimed that someone at my workplace had given my name to the FBI.' Sivadge's revelations came a year after Dr. Eithan Haim, a surgeon at the hospital, released documents in May 2023 showing that Texas Children's continued providing gender-affirming care after claiming it had ceased operations in March 2022. Haim was later indicted by the Department of Justice on four federal charges—three of them for HIPAA violations. Haim denied any wrongdoing. 'They wanted to intimidate me into silence using every technique the federal leviathan had at their disposal. But they failed,' Haim said. 'The only way to lose is to submit to corruption. It's time to fight back harder than ever!' Haim claimed the leaked files did not contain personal health information. And like Haim, Sivadge also had to pay the price for bringing the truth out in the open. Sivadge in a tweet revealed she had been fired in August 2024, just two months after coming forward. 'I had low expectations when I went public, doubtful and uncertain if anyone would notice or care,' she wrote. 'Imagine my shock when people I had never met overwhelmed my Legal Defense Fund with financial support.' She added: 'After I was fired in August 2024, these early contributions by generous supporters enabled us to retain [@BurkeLawTweets] as our legal counsel. They are the most qualified, tenacious group of attorneys I have ever had the privilege of working with.' However, Sivadge points out that the two journalists she accused,- David Pauls and Dr Richard O Roberts- have since vanished from the scene. Jonathan Choe, a reporter known for investigating gender medicine practices, visited the physicians' listed residences. Despite attempts to make contact, neither doctor was found at home, and no public statement has been issued by them regarding the allegations to date. Amidst the controversy, the CEO of the Texas hospital, Mark A. Wallace, stepped down after 35 years at the helm. The announcement was delivered without fanfare and did not reference the whistleblower case or ongoing investigations. Credit: X/Vanessa Sivadge However, internal memos obtained by reporters showed that Wallace had previously circulated communications stating that the hospital's gender program had been fully shut down following the February 2022 directive from Attorney General Ken Paxton, which categorized gender-affirming care for minors as potential child abuse under Texas law. Contrary to those assurances, whistleblower claims and leaked documents showed that the program had continued operations in various capacities well into 2023, with medical records indicating the ongoing prescription of puberty blockers and hormones. The disconnect between internal messaging and actual medical practice is now a focal point in both legal and legislative reviews of the hospital's conduct. June 2025: One year later, still no closure The Texas Attorney General's Office, under Ken Paxton, is actively investigating the allegations involving Medicaid fraud and misrepresentation of gender-related diagnoses for billing purposes. State Rep. Brian Harrison and Sen. Mayes Middleton submitted a joint letter urging Texas Health and Human Services to conduct a full audit of Medicaid/CHIP funds used by Texas Children's Hospital from 2021 onward. Credit: X/Vanessa Sivadge In their statement, they wrote: 'There is perhaps no more important responsibility we all share than to be good stewards with tax dollars... If true, not only do the actors involved know they are perpetrating a fraud, but they are doing it to engage in child abuse.' Meanwhile, federal prosecutors continue their case against Dr. Eithan Haim. He faces four charges—three for alleged HIPAA violations and one for unauthorized access of medical files. Haim maintains that no protected health information was leaked and that his actions were protected whistleblowing under federal law. Texas Attorney General Ken Paxton has since launched an official investigation into the hospital's use of Medicaid funds and the allegations of child abuse. State Rep. Brian Harrison has called for emergency hearings. Meanwhile, Dr. Eithan Haim's legal case continues, as does fundraising for both whistleblowers' legal defenses. For her part, Vanessa Sivadge remains defiant and resolute. 'They tried to silence me,' she said. 'But if telling the truth costs me everything, I can live with that.' One step to a healthier you—join Times Health+ Yoga and feel the change
Fox News
18-04-2025
- Health
- Fox News
HHS probing hospital over firing of nurse who blew whistle on minors getting gender treatments
The Department of Health and Human Services (HHS) is probing "a major pediatric teaching hospital" over the alleged firing of a nurse who sought a religious exemption to avoid administering puberty blockers and cross-sex hormones to children. "The Department will robustly enforce federal laws protecting these courageous whistleblowers, including laws that protect healthcare professionals from being forced to violate their religious beliefs or moral convictions," Acting HHS OCR Director Anthony Archeval said in a statement. While HHS has not confirmed the hospital's identity, it is believed to be Texas Children's Hospital (TCH) — the largest children's hospital in the U.S. — as the investigation follows whistleblower nurse Vanessa Sivadge's testimony on Capitol Hill. Sivadge first came forward publicly in June 2024 and was later fired in August 2024. Sivadge told lawmakers that she had witnessed "disturbing trends and concerning practices" relating to the treatment of children diagnosed with gender dysphoria. She also said that she "observed the powerful and irreversible effects" of treatments that patients were told were "lifesaving." "I witnessed firsthand how doctors emotionally blackmailed parents by telling them that if they did not affirm their child's false identity, their child would harm themselves. In particular, I was saddened to see young girls suffering from profound mental health struggles like depression and anxiety, many of whom had also suffered sexual abuse or trauma, persuaded by doctors at Texas Children's that a hormone would resolve their gender confusion," Sivadge told lawmakers. Dr. Eithan Haim, who was accused of violating HIPAA while in surgical training at Baylor College of Medicine, which is affiliated with TCH, also blew the whistle on the hospital for "lying about the existence of its transgender program." The Biden DOJ brought charges against Haim for the alleged HIPAA violations, but the case was ultimately dropped under the Trump administration. Haim claimed the hospital was engaging in fraudulent billing practices to hide the fact that it was carrying out transgender procedures on minors even though it was against Texas law. This included recording mastectomies as "breast reduction" surgeries and billing testosterone prescribed to a teen girl under a male diagnosis. In her testimony, Sivadge said that federal agents came to her home when investigating the whistleblower, now known to be Haim, because of her objections to transgender medicine. She described the interaction as intimidating and said that one of the special agents "effectively asked me to compromise my Christian beliefs and made veiled threats regarding my career and safety if I didn't comply with their demands." Sivadge's attorney filed a complaint with the U.S. Equal Employment Opportunity Commission (EEOC) on April 11, alleging that she "observed TCH doctors, after very little deliberation or critical analysis, embarking children on dangerous and often irreversible courses of 'gender-affirming' treatment." According to the complaint, TCH "temporarily" paused "gender-affirming services" for minors after Texas Attorney General Ken Paxton said in February 2022 that such treatments could constitute child abuse. The treatments were banned in the state following the passage of a bill in May 2023, which went into effect in September 2023. According to Sivadge's attorney, she asked to be transferred back to cardiology in May 2024, citing her religious beliefs. Sivadge publicly blew the whistle on TCH on June 18, 2024, and was asked not to report to work the next day, according to the complaint. Just days later, on June 21, she was placed on administrative leave and was officially terminated in August 2024. TCH alleged that the termination of her employment was due to improper access to medical records. On Jan. 28, 2025, President Donald Trump signed the "Protecting Children from Chemical and Surgical Mutilation" order, which prevents minors from undergoing transgender treatments. In accordance with this order, HHS has issued guidelines for prospective whistleblowers. Fox News has reached out to TCH and HHS for comment.
Forbes
16-04-2025
- Business
- Forbes
The Clearing House Sees Growth In Its Real-Time Payments (RTP)
Real-time payments often travel over fiber optic cables Real-time payments (RTP) in the U.S have been gaining momentum in number of users, number of transactions and the growing maximum size of transactions. Even so, the U.S lags well behind such advanced payments networks as those operated by India and Brazil. In early February The Clearing House (TCH) announced its first $10 million instant payment over the RTP network which had just raised its maximum payment from $1 million to $10 million. The payment was by Computershare, a global transfer agent, from Bank of New York Mellon (BNY) to another financial institution. The average daily volume on the RTP network has jumped this year, from $909.2 million in January to $2.8 billion in mid-March, said Gregory MacSweeney, spokesman for TCH. 'Most of the higher value transactions appear to be corporations moving money between accounts for portfolio rebalancing, cash concentration or paying partners or suppliers. For instance, a large retail chain may move funds from its account in the Midwest, to its main account at headquarters, or move funds to another region.' The average transaction amount during that time was $2,510. Although the RTP network has seen impressive growth, fintech firms that support it have been a little disappointed, said Erika Baumann, director of commercial banking & payments at Datos Insights. 'Alacriti, ACI, Fiserv, Icon Payments and Volante — there's nobody who isn't active in this space,' she said. Vendors are working with their client banks to help them avoid disintermediation, but she hasn't seen a lot of vendors meeting their growth goals. Instead she has seen a lot of disappointment at the pace of adoption, especially with smaller banks. 'That's the result when you don't have mandates from regulators. We kind of go through and get to it when we get to it.' Now RTP is doing great, she added, but it took five years to get to takeoff, and then it doubled volumes quickly. 'It started off slow and then now the volumes are pretty impressive.' RTP faced the same challenge that FedNow, the Federal Reserve's instant payment platform, now faces. Banks are faster to set up facilities to receive instant payments, since receiving is pretty much risk free, but they take longer to start sending. But until a number of banks are sending, what is there for receive-only banks to transact? 'RTP has to overcome that hurdle of getting enough banks sending; FedNow has the same hurdle.' She said FedNow has a fraction of the nation's DDAs participating. Banks have faced technological challenges in going to real-time payments, said Nadish Lad, head of payments at Volante Technologies. It develops systems for real-time payments, including the system BNY Mellon used to send the first $10 million payment over the RTP network. 'To execute that payment, you need every application, every step to be completely real time,' said Nadish. 'Then the next problem is 24x7. These banks have core banking platforms which you can call, check the balance and validate the accounts are all good. But at 10 p.m., the core banking platform shuts down for a refresh, and then starts at 10:30 again.' Not exactly 24x7. If a bank creates a shadow balance, it introduces complexity and added another point of failure. So the bank should modernize its core banking system, but that's like open heart surgery, said Lad. Banks don't have to replace their cores to implement real-time, said Baumann. 'For smaller banks, many are opting to connect through their cores, but non-core providers like Finzly and Volante and Alacriti are largely core agnostic,' she said. 'It is still painful and expensive, but better than a core replacement that can take years, or sometimes a decade.' The big four banks absolutely hold the majority of the market share, she added. 'Not only do they have about half of the total deposits in the U.S., our most recent survey of mid and large corporate indicates that about 67% of these businesses are banking with a big four.' Uneven adoption of real-time payments is a problem for businesses, added Lad. 'If the beneficiary is BNY Mellon, then I know they will receive it in real-time. For the other beneficiaries, I'll have to send by ACH. If I added a day for everyone, no one is going to really benefit.' Lad said banks are still studying real-time payments more than acting. 'Every prospect we talk to in the U.S market asks do you have RTP? We say yes, we have a number of clients who have been live for the last six, seven years in your U.S market. Then, when we ask what are their plans? Oh, they say, we are thinking about it. We will probably look at it next year or the year after that.'
