SPN 27th Annual Meeting

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.