Central Banking

Fed's Minehan sees e-payments change as inevitable

US - The shift in the financial payments and settlements system to electronic transactions is proceeding apace, and the U.S. central bank is embracing that change, Cathy Minehan, the president of the Federal Reserve Bank of Boston, said on Tuesday.

In a speech here before the Electronic Payments Association which did not include any comments on interest rate policy or the economic outlook, the central banker noted that while payments with checks still make up the majority of transactions, 40 p