Remove Good Funds Remove Payment Networks Remove TCH
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Faster Payments: Does The Fed Have A Hidden Agenda?

PYMNTS

The Fed’s Hat and the Faster Payments Ring. Fast forward a few years, and we now have the Federal Reserve Board soliciting public comments on its potential role as the operator of a new faster payments network in the U.S. TCH is the association of the 25 largest banks in the U.S., the other being the Fed.

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The Big Tech Canary In The Faster Payments Coal Mine

PYMNTS

The letter highlighted the role of faster payments as a panacea to financial inclusion problems in the U.S. The letter highlighted that access to the payments systems today is only possible through incumbent intermediaries – the banks and the card networks – which have not kept pace with the needs of consumers and businesses.