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A bipartisan group of Congress members are prodding the Federal Reserve to expedite the expansion of interbank settlement hours, underscoring the potential for accelerating faster and safer payments for consumers, workers and businesses.
“Our goal is that the Fed take the progress that they’ve made on faster payments and improving the payment infrastructure, and advance the ability to go 24 hours a day, seven days a week, sooner than a date in 2027,” Hill said in an exclusive interview with Payments Dive on Monday.
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