Simply Stated - A Podcast On All Things State Finance

In recent years, there’s been a new obsession with something called “Real-Time Payments.” It’s the idea that everything it takes for one person to send money to another could happen instantaneously.Host: Matt Longacre,Guest: Joey Samowitz, Senior Analyst, Policy, Conference of State Bank SupervisorsTimestamps:2:05 - The Journey of a Check in the 20th Century6:05 - How 9/11 Stopped Your Check from Flying Commercial8:33 - How Does Money Move Today?10:34 - What's a Real-Time Gross Settlement System?11:25 - What's a Net Deferred Settlement System?12:52 - Are there any Real-Time Payment Systems Today?14:15 - Why Create a New System if one Already Exists?16:18 - What's in it for the Consumer?17:38 - Who is for FedNow? Who is Opposed?18:57 - How did the Federal Reserve Gather Feedback for FedNow?Editor's Comment: During the interview, we discuss how "50% of banks have been reached by the Clearing House RTP system." This system has in fact only reached 11 of the 24 banks that currently o