Faster Payments


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 to Fed: Speed Up FedNow Launch Press Release 09/10/20
ICBA to Fed: Move Quickly on Real-Time Payments System Press Release, News 11/12/19
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
Main Street Victory: ICBA Applauds Fed on Real-Time Payments Decision Press Release, News 08/05/19
ICBA Urges Fed to Develop Real-Time Payments System Press Release, News 07/24/19
Fed Close on Faster Payments—Make Some Noise NewsWatch Today Article 07/22/19
ICBA Urges Federal Reserve Role in Faster Payments Press Release 12/14/18
ICBA Continues Call for Fed Role in Faster Payments Press Release 10/03/18
ICBA Comments on Real-time Monitoring of Fedwire Transfers NewsWatch Today Article 07/05/18

Letters to Congress

Title Recipient Date

Letters to Regulators

Title Recipient Date
Federal Reserve
Federal Reserve
Federal Reserve
Federal Reserve


Title Committee Presenter Date
House Financial Services Committee's Task Force on Financial Technology
Robert A. Steen
Senate Banking Committee
Robert A. Steen


Title Content Type Date
ICBA Summaries