Fed’s Secure Payments Task Force Includes Many ABA Members

The Federal Reserve recently released the roster of those selected for its Secure Payments Task Force, one of two stakeholder groups helping the Fed identify approaches to creating a better, faster and safer U.S. payments system.

Of the 16 members of the task force’s steering committee, five are bankers, and all five represent ABA member banks: Chris Gilbert of Bankers’ Bank of Kansas, Wichita; Anthony Meholic of the Bancorp, Wilmington, Del.; Frank Perrelli of the Bank of New York Mellon; Stephen Ranzini of University Bank, Ann Arbor, Mich.; and Glen Ulrich of U.S. Bancorp.

Of the 46 bankers on the broader task force, 36 represent ABA member institutions. 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.

Seventy-one of the 80 bankers on the related Faster Payments Task Force — and all five bankers on that task force’s steering committee — also represent ABA member banks.