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Fed Seeks Comment on Faster Payments; Latest Cornerstone Regulatory Grid Available Online
Wednesday, November 7, 2018 7:00 AM

The latest Cornerstone Credit Union league Regulatory Grid Summary is available online now. This informative summary gives you the most up-to-date details about current federal and state comment calls for proposed rules and regulations.

Notably, the Board of Governors of the Federal Reserve System is seeking input on potential actions that the Federal Reserve could take to promote ubiquitous, safe, efficient, and faster payments in the United States by facilitating real-time interbank settlement of faster payments.

While the Board is not committing to any specific actions, potential actions include the Federal Reserve Banks developing a service for 24x7x365 real-time interbank settlement of faster payments and a liquidity management tool that would enable transfers between Federal Reserve accounts on a 24x7x365 basis to support services for real-time interbank settlement of faster payments, whether those services are provided by the private sector or the Federal Reserve Banks.

Other critical issues summarized in this grid include FHFA Enterprise Capital Requirements, NCUA Real Estate Appraisals, and BCFP Request for Information on Bureau Data Collection.

Learn more.

Credit unions are encouraged to send their personalized comment letters to the appropriate agencies, outlining their personal experience surrounding the issues. Please don't forget to copy Suzanne Yashewski so participation can be tracked and league comment letters can be crafted to best reflect our credit union members’ perspectives.

If you have any questions about this summary or comment calls, contact Suzanne Yashewski at syashewski@cornerstoneleague.coop or 512-853-8516.