Federal Reserve says it’s prepared to play a more hands-on role if private sector progress with the rollout lags. The central bank wants to see action within the next three to four years – an accelerated timeframe from the 10-year plan the Fed first described in late 2013. The growing need for payments interoperability, both domestically and across borders, has created the need for more rapid change. The Fed’s five desired outcomes, which are outlined in the 58-page “Strategies for Improving the U.S. Payment System,” have not changed since 2013.”]
Source: https://www.bankinfosecurity.com/feds-payments-overhaul-on-fast-track-a-7904