Rep. Waters Issues Statement on Fed Decision on Real-Time Payments
Rep. Maxine Waters, D-California, chairwoman of the House Financial Services Committee, issued the following statement on the Federal Reserve's decision to modernize its interbank payments system into a real-time gross settlement service, which will allow consumers to have access to funds deposited into their bank accounts:
"The Federal Reserve has put off meaningful action on payments system innovations for many years and I am pleased to see that Chairman Powell has finally taken action.
"Today's decision towards innovating the payments system will benefit consumers, small businesses, community banks and credit unions, and it will bring the U.S. payments network into the digita...