Faster Payments

Position

ICBA strongly urges the Federal Reserve to assist in achieving ubiquitous, nationwide access to safe and efficient faster payments for all financial institutions, and most importantly, their customers by serving three roles:

  • operator of a real-time gross settlement service,
  • operator of liquidity management tools,
  • operator of a payments directory switch or hub linking financial institutions to other payments directories.

ICBA supports the Federal Reserve System in its dual role as payment systems regulator and provider/operator of services and urges the Reserve Banks to support the development and evolution of payment systems with new operational roles.

ICBA supports rules and standards organizations and the role they play in developing and maintaining payment systems’ access and functionalities. ICBA urges these organizations to have governance processes which enable and foster community bank participation and support transparent, timely and inclusive rulemaking.


Articles & Press Releases

Title Publication Date
ICBA Again Testifies in Support of FedNow Decision NewsWatch Today Article 09/27/19
ICBA Backs Real-Time Payments Decision in Testimony NewsWatch Today Article 09/26/19
ICBA Testifies on Support for Fed Real-Time Payments Decision Press Release 09/25/19
ICBA Develops Series on Charting a Digital Payments Path Press Release, News 09/09/19
ICBA Timeline Details Real-Time Payments NewsWatch Today Article 08/08/19
ICBA Makes News on Real-Time Payments NewsWatch Today Article 08/06/19
Romero Rainey: Community Bankers Left Nothing on the Field NewsWatch Today Article 08/06/19
Fed Announces Real-Time Payments Service NewsWatch Today Article 08/06/19
Main Street Victory: ICBA Applauds Fed on Real-Time Payments Decision Press Release, News 08/05/19
Powell: Widespread Support for Fed Faster Payments Involvement NewsWatch Today Article 08/01/19

Letters to Congress

Title Recipient Date

Letters to Regulators

Title Recipient Date
Federal Reserve
07/24/2019
Federal Reserve
06/27/2019
Federal Reserve
12/14/2018
Federal Reserve
04/18/2017

Testimonies

Title Committee Presenter Date
House Financial Services Committee's Task Force on Financial Technology
Robert A. Steen
09/26/19
Senate Banking Committee
Robert A. Steen
09/25/19

Summaries

Title Content Type Date
ICBA Summaries
07/08/2019