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Fed issues request for information on check and payment fraud; lawmakers seek action
5070976 · June 24, 2025
AI-Generated Content: All content on this page was generated by AI to highlight key points from the meeting. For complete details and context, we recommend watching the full video. so we can fix them.
Summary
Chair Powell confirmed the Federal Reserve has issued a request for information on mitigation of check and payment fraud and is gathering input to guide next steps. Lawmakers urged action to reduce fraud even as use of checks declines; Powell said the Fed is collecting information and will consider policy steps based on public responses.
Several members asked about a Fed request for information (RFI) on check and payment fraud.
Representative Foster noted the RFI and urged prompt action to reduce…
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