TITLE

Can Banks Modernize Payments Without Fed's Nudge? Weekly Wrap

AUTHOR(S)
Todd, Sarah
PUB. DATE
February 2015
SOURCE
American Banker;2/23/2015, Vol. 180 Issue 27, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article considers the U.S. Federal Reserve's call on the financial industry to develop faster payments without issuing any directives. Topics discussed include the Federal Reserve's lack of authority to issue a mandate, the need for a clear federal directive that would help keep the U.S. competitive, and the suggestion that the Federal Reserve should take a central role in the facilitation of real-time clearing of transactions through the Internet.
ACCESSION #
101086082

 

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