Tag Archives: Banking

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Cumberland Advisors Market Commentary – The Payments Modernization Act

Author: Robert Eisenbeis, Ph.D., Post Date: August 22, 2019
Cumberland Advisors' Robert "Bob" Eisenbeis, Ph.D.

Legislation has recently been introduced to require the Federal Reserve to develop a real-time payments system to compete with existing systems. Interestingly, a short time after the introduction of the legislation, the Federal Reserve announced its intention to proceed with plans to develop just such a system. In describing the intent behind the legislation, co-sponsor […]