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Wednesday, October 30 • 2:15pm - 3:30pm
Roundtable: Federal Overreach in Payments: The Fed, Price Controls, and Tech Mandates (Sponsored by Rio Grande Foundation)

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Federal intervention in basic everyday activities, such as making a payment, is on the rise. Policymakers at the state and federal levels are considering imposing price controls and technology mandates on the payments industry. The Federal Reserve wants to spend hundreds of millions of dollars to form a duplicative real-time payment network that will compete with the private sector. Furthermore, state governments are considering a mandate on retailers, processors, and banks to remit sales tax automatically—imposing up to $1 billion in regulatory costs.

Learn more about the payments system in the United States and how little-known regulatory interventions at the state and federal levels can increase the rate of the unbanked, reduce consumer welfare, and harm innovation.

avatar for Paul Gessing

Paul Gessing

President, Rio Grande Foundation
Paul is president of Rio Grande Foundation, New Mexico's only free market think tank. The Foundation's work is focused primarily on reform the State's economy and education systems. Paul has run the Foundation since March of 2006. Before joining the Rio Grande Foundation Paul... Read More →
avatar for Rob Hunter

Rob Hunter

Executive Managing Director & Deputy General Counsel, The Clearing House
Mr. Hunter serves as the senior lawyer supporting The Clearing House Payments Company’s CHIPS®, EPN, RTP® and SVPCO Image Exchange networks that clear and settle approximately $2 trillion daily. As principal staff advisor on payments law issues for The Clearing House Association... Read More →
avatar for Patrick Reynolds

Patrick Reynolds

Senior Tax Counsel, Council on State Taxation
Patrick J. Reynolds is a Senior Tax Counsel with the Council On State Taxation (COST), a nonprofit trade association based in Washington, DC. COST was formed in 1969 as an advisory committee to the Council of State Chambers of Commerce and today has an independent membership of... Read More →
avatar for Frank Salinger

Frank Salinger

Frank Salinger runs a boutique law practice helping financial services companies and their trade associations unravel federal and state legislative and regulatory knots that impede business. He specializes in legislative and regulatory analysis and political strategy.Before establishing... Read More →

Wednesday October 30, 2019 2:15pm - 3:30pm MDT