The Federal Reserve board of governors Wednesday issued a request for comments for actions the Federal Reserve could take to support faster payments in the U.S. CUNA has requested, via letter and in-person meeting, that the Federal Reserve increase its involvement in faster payments. The announcement was made at the FedPayments Improvement Community Forum meeting in Chicago, which CUNA staff attended.
“CUNA remains a strong advocate for a secure faster payments system that is accessible to institutions of all sizes,” said CUNA President/CEO Jim Nussle. “We appreciate the Federal Reserve board of governors issuing these proposals, and look forward to submitting detailed comments.
Specifically, the Federal Reserve seeks input on the following potential actions:
Comments on the proposal are due Dec. 14.
CUNA was a member of the Federal Reserve’s Faster Payments Task Force, and the Federal Reserve’s Secure Payments Task Force, which have both concluded. CUNA is a member of the FedPayments Improvement Community