Fetterman Urges Federal Reserve to Expedite Payment Speeds for Working Families and Small Businesses
WASHINGTON, D.C. — Last week, U.S. Senator John Fetterman (D-PA) penned a letter to Federal Reserve Board Chairman Kevin Warsh urging the board to begin rulemaking under the 1987 Expedited Funds Availability Act to expedite payments and speed up paychecks for every American. “I write to urge you to begin rulemaking pursuant to the directives of the Expedited Funds Availability Act (EFAA),12 U.S.C. §§ 4001–4010, to expedite check clearing and