Democratic Senator John Fetterman has sent a letter to Federal Reserve Chair Kevin Wash, urging him to initiate the development of regulations aimed at "speeding up payments and getting paychecks to people faster."
The senator's office released the comments in a statement on Tuesday, along with the letter dated June 23.
In the correspondence, Fetterman cited the directive of the Expedited Funds Availability Act, calling for "faster check clearing and faster access to direct deposits."
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