releases: https://riggleman.house.gov/media/press-releases/congressman-denver-riggleman-questions-federal-reserve-about-fednow-payments
Data license: MIT · Data source: dwillis/congress-press
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| https://riggleman.house.gov/media/press-releases/congressman-denver-riggleman-questions-federal-reserve-about-fednow-payments | Congressman Denver Riggleman Questions Federal Reserve about FedNow Payments System | 2019-12-04 | 2019 | 2019-12 | Republican | House | VA | Denver Riggleman | R000611 | riggleman.house.gov | legacy | Washington, D.C. -In a House Financial Services Committee hearing this morning Congressman Denver Riggleman questioned Federal Reserve Vice Chairman Randal Quarles on the veracity of the Federal ReservesFedNow Payments system. Rep. Riggleman asked Chairman Quarles about the need for the new system as compared to private-sector alternatives. "Some of my colleagues have introduced legislation that would dramatically expedite that service, despite the current operational and functional existence of a private market platform,"asked Congressman Riggleman. "If Congress arbitrarily, without understanding, required the Fed to move ahead of its own timeline, what would be the effects specifically on consumers and markets?" Congressman Riggleman has been a leader on theFinancial Services Committee as it reviews the Federal Reserves' proposal to create the FedNow faster payments system. Congressman Riggleman published an Op-Ed in American banker which asked the Fed to provide further detail on their system before proceeding. You can watch Congressman Riggleman's questions here. | 1 | 2026-03-30T12:14:52Z | 2026-03-30T12:14:52Z |