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To help the industry better understand these potential actions, Abram Tubbs, a director of the Chicago Federal Reserve Board, and the Fed will host a public town hall from 1 p.m. to 4 p.m. Nov. 7 at the DoubleTree Cedar Rapids Convention Center, 350 1st Ave NE, Cedar Rapids. Ohnward executive Abram Tubbs will introduce some of the Fed participants at the meeting. Tubbs is president of Ohnward Bancshares, Inc., chief executive officer of Ohnward Bank & Trust, and chief financial officer of First Central State Bank.

On October 3, the Federal Reserve Board of Governors published a Federal Register Notice, requesting public comment on potential actions that the Fed could take to facilitate real-time interbank settlement of faster payments. In order to help the industry better understand these potential actions, we will host a public town. Town hall attendees will learn about and have the opportunity to ask questions and share views on the potential actions the Fed is considering.

As part of its overall mission, the Federal Reserve has a fundamental interest in ensuring there is a safe and robust settlement infrastructure on which the private sector can provide innovative payment services that serve the broad public interest. The settlement infrastructure concepts outlined in the Notice are intended to advance public policy goals for faster payments and to help support the modernization of the payment system. We are requesting your feedback to help assess the potential actions under consideration for achieving this.

To attend a town hall, register, and/or learn more about the Federal Register Notice and the opportunity to submit comments, visit https://fedpaymentsimprovement.org/faster-payments/settlement-assessment/