The Federal Reserve's decision to get involved in real-time payments was the right choice to support a strong and healthy payments system, ICBA community banker Michael A. Ewing wrote in a new op-ed.
In American Banker
, the vice chairman and CEO of Oak View National Bank in Warrenton, Va., wrote that having both the private and public sector working together in concert ensures that all financial institutions will have access to payments settlement.
ICBA has long supported
the Fed’s role in real-time payments, led the fight ahead of the Fed's decision to launch FedNow, and testified before Congress on its behalf twice last month.
Read the Op-Ed