When: Tuesday, September 22, 2020, 2:00 - 3:00 p.m. EDT
Online only: https://www.brookings.edu/events/how-to-make-real-time-payments-real-now/
What: The failure of the U.S. government to be able to quickly provide citizens with emergency funds in response to the COVID-19 recession starkly reminds us that delays in America's payment system have significant consequences. The most financially vulnerable bear the largest cost from this outdated system. How is that Americans can instantly stream any film to their living room but still have to wait days, weeks, or months to receive a simple payment?
On Tuesday, September 22, the Center on Regulations and Markets at Brookings will convene a panel of experts to discuss how to fix this problem quickly. We will analyze potential solutions that could deliver real-time payments immediately, what the consequences would be from waiting over three years for the Federal Reserve's promised new payment system, and why much of the rest of the world solved these problems years ago but America hasn't.
Viewers can submit questions by emailing events@brookings.edu or by joining the conversation on Twitter with #FixPayments.