Kansas’s Hoenig calls for Fed to oversee mobile payments
Ensuring that the payments systems adapts safely and effectively to the increased use of mobile payments would be a key challenge for the Federal Reserve, Thomas Hoenig, the president of the Kansas Fed, said on 24 August.
Mobile payment devices were fast gaining popularity, and it was critical for the central bank to define its response to this change, Hoenig said. "In this regard, I see the [Fed's] role in mobile payments as being similar to what it assumed for [the Automated Clearing House
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