Numerous ABA Members Named to Fed Payments Task Force

The Federal Reserve recently released the roster of those selected for its Faster Payments Task Force, a group representing all stakeholders in the payments industry to help identify approaches to creating a better, faster and safer U.S. payments system.

Of the 19 members of the task force’s steering committee, five are bankers, and all five represent ABA member banks, including Bob Steen of Bridge Community Bank, Mount Vernon, Iowa; James Reuter of FirstBank, Lakewood, Colo.; Mark Keeling of the Bankers’ Bank, Oklahoma City; Thomas Rea of U.S. Bank; and Mitch Christensen of Wells Fargo.

Of the 80 bankers on the broader task force, 71 represent ABA member institutions. Also representing ABA on the task force are ABA VP Steve Kenneally and Patrick DeVilbiss of ABA’s international finance subsidiary BAFT. The group will meet in person and by conference call to develop its recommendations. Participants include bankers, credit union staff, payment processors, merchants, consumer groups, payment networks and more.