To require the Board of Governors of the Federal Reserve System to carry out a quantitative impact study of any proposed real-time payment system under the Faster Payments Initiative before implementing such system.
This bill prohibits the Federal Reserve Board from developing, building, or implementing a real-time payment system until one year after submitting a report to Congress regarding such a system. This report must include a quantitative impact study.
Actions
Jul 24, 2019
Referred to the House Committee on Financial Services.