North American Banking Company CEO Named to Federal Reserve Governance Framework Formation Team

The 27 member team will focus on developing a governance framework for faster payments capabilities by 2020.

Earlier this month, North American Banking Company CEO Michael Bilski was named to the Federal Reserve's Governance Framework Formation Team. The group, consisting of 27 banking leaders throughout the United States, will focus on the structure, decision-making and processes of a governance framework.

Sean Rodriguez, faster payments strategy leader at the Federal Reserve and chair of the task force, will serve as chair of the group.

Bilski was also a member of original Faster Payments Task Force that created its recommendations in a July 2017 report titled "The U.S. Path to Faster Payments."

"The work of the Faster Payments Task Force was successful because 300-plus payment stakeholders came to the table with a common goal of an improved payment system for the U.S.," said Rodriguez. "I've seen this same enthusiasm with the Governance Framework Formation Team. They are committed to working together in order to achieve the task force vision of ubiquitous faster payments capabilities in the U.S. by 2020."

Click here for more information about the Federal Reserve's Governance Framework

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