James Aramanda is president and chief executive of The Clearing House, a 165-year-old enterprise that operates as the largest private-sector payment system in the United States, clearing and settling approximately $2 trillion in bank-to-bank payments each day.
Leaders of the Bank Policy Institute and The Clearing House say their conferences are neither profit centers nor potential conflicts of interest for regulators in response to a recent BankThink piece that describes the meeting as an example of overly cozy relationships between banks and regulators.
Arguments that the central bank should develop its own system for faster payments ignore current market realities, says The Clearing House, which has developed its own network.
Arguments that the central bank should develop its own system for faster payments ignore current market realities, says The Clearing House, which has developed its own network.
New payments systems will allow everyday financial tasks such as paying bills, issuing invoices, making payroll, or settling insurance claims to be easier, faster, safer, and more efficient, writes Jim Aramanda, president and CEO of The Clearing House Association and Payments Company.