Newsroom

October 31, 2017

NAFCU at two-day Fed meeting to discuss payment security

Beginning today, NAFCU will attend a two-day meeting of the Federal Reserve's Secure Payments Task Force – of which the association is a member – to discuss industry trends and ways to improve the U.S. payments system.

The meeting will be hosted at the Charlotte, N.C., branch office of the Federal Reserve Bank of Richmond. Regulatory Affairs Counsel Andrew Morris will attend the two-day meeting.

The Secure Payments Task Force advises the Fed on payment security matters. NAFCU also served on the Fed's Faster Payments Task Force. The task forces were formed as a part of the Fed's "Strategies for Improving the U.S. Payment System."

NAFCU has urged the Fed against a "one size fits all" approach in determining the payments system's future and continues to advocate that any new payments system be cost-effective, efficient and scalable for credit unions of all sizes.