ICBA continues urging community bankers to support Federal Reserve involvement in real-time payments. ICBA is sponsoring this week’s “Politico Morning Money” newsletter, and recently ran ads in “Politico” and “The Hill” urging policymakers to stop the megabank monopoly on real-time payments.
ICBA President and CEO Rebeca Romero Rainey wrote to Federal Reserve Chairman Powell – and penned an op-ed – noting the Fed is uniquely positioned to provide equitable access to real-time payments. IBANYS members can use ICBA’s “Be Heard” grassroots action center to tell your local members of Congress and New York Federal Reserve Bank President John Williams why the agency should operate a Real-Time Gross Settlement service. ICBA said Fed involvement in real-time payments would provide safety, integrity, continuity and equitable access to all financial institutions.