"There's a lot that the industry as a whole needs to be investing in," says the Clearing House's Steve Ledford. "We need to make sure that improving the payments system has a reason to get to the top of that list."

Big Banks Ask 'What's the Rush?' on Faster Payments

The Fed's vision of a vastly improved payments system within 10 years is getting a chilly reception from a group representing the nation's largest banks.

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