Federal Reserve System: Mandated Report on Potential Conflicts of Interest

Abstract

This report responds to a mandate in the Gramm-Leach-Bliley Act of 1999 for us to study the potential conflicts of interest faced by the Federal Reserve System (Federal Reserve) in its role as a central bank, payment services provider, and regulator of the banking system. The payments system is the system of mechanisms, both paper-based and electronic, for moving funds among financial institutions throughout the nation. In this report, we discuss the Federal Reserve's role in providing check collection and automated clearing house (ACH) services, which are often referred to as retail payments. To encourage competition between the Federal Reserve and private sector providers of payment services, the Monetary Control Act of 1980 (MCA) requires that the Federal Reserve charge fees for payment services that it once provided to its members free of charge.

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Document Details

Document Type
Technical Report
Publication Date
Nov 01, 2000
Accession Number
ADA383823

Entities

Organizations

  • United States Government Accountability Office

Tags

Communities of Interest

  • Biomedical
  • Energy and Power Technologies
  • Human Systems

DTIC Thesaurus Topics

  • Air Transportation
  • Capital Investments
  • Commerce
  • Control Systems
  • Corporations
  • Electronic Mail
  • House Of Representatives
  • Indirect Costs
  • Investments
  • Land Transportation
  • Law
  • Monetary Policy
  • Money
  • Product Development
  • Transportation
  • United States
  • Websites

Readers

  • Government Contracting/Procurement.
  • Government and Public Administration Law.
  • Military Mobilization and Reserve Forces Studies.

Technology Areas

  • Microelectronics