On July 22, 2019, a bipartisan group from the Senate Banking Committee – Sens. Mark Warner, (D-Va.), Thom Tillis, (R-N.C.), David Perdue, (R-Ga.), Jon Tester, (D-Mont.), and Tom Carper, (D-Del.), sent a letter to Federal Reserve Board Chairman Jerome Powell pressing him to provide answers to several questions prior to any additional action being taken by the Fed in relation to the Fed’s October 2018 RFC on “actions the Federal Reserve could take to support faster payments in the United States”. While the senators remain open to the idea of the Fed looking into the possibility of pursuing a real-time payments system, competing with the private sector, the group questions what benefit this would ultimately provide to consumers and whether the Fed should even be considering entry into the real-time payments space.