Central Banking

Fed's Kohn on investing in payment innovations

In the speech 'Investing in payment innovations: A Federal Reserve perspective' given on 11 May Donald Kohn of the Federal Reserve said changing electronic payment systems benefit both institutions and consumers, but also expose them to new risks, including fraud.

"The Federal Reserve must ensure that consumers have adequate protection and that regulations are consistent with the changing technological environment," Kohn told a conference on payments systems at the Chicago Federal Reserve Bank.

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