To amend the Expedited Funds Availability Act to require that funds deposited be available for withdrawal in real time and to require the Board of Governors of the Federal Reserve System to create a real time payment system, and for other purposes.
Payments Modernization Act of 2019
This bill requires the Federal Reserve Board to create a real-time payment system that allows funds to be available to any end user in real time, including funds deposited at a depository institution.
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 116-104.
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
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