Thank you for the opportunity to speak today, in the midst of a wave of innovation in the payments system. There are a range of important players in the payments system and the Federal Reserve has important roles as a supervisor as well as a payments operator. Regardless of who is providing the service, our payments system needs to meet fundamental principles. Among those core principles is ensuring that the payments infrastructure supports broad access and promotes financial inclusion. Payments are essential for everyday life, and too often, low- and moderate-income households and small businesses don't have access ... (full story)