Governance Framework Formation Team

The Governance Framework Formation Team is a short-term work group, established by the Faster Payments Task Force (FPTF) to develop recommendations for a faster payments governance framework for the U.S. marketplace. The group will develop a representative and inclusive governance framework, including setting out recommendations for establishing leadership roles and responsibilities and membership guidelines.

Objectives

The formation team will carry out its mission in accordance with Recommendation One of the Faster Payments Task Force Final ReportThe U.S. Path to Faster Payments. The group has set to work in pursuit of the following objectives:

  • Developing an initial faster payments governance framework that incorporates public commentary; and
  • Establishing the framework and membership.

The formation team will initially focus on the structure, decision-making and processes of a governance framework, and is committed to keeping industry stakeholders apprised of progress. The group will seek comment on its recommendations in the spring of 2018, with the goal of concluding its work in the second half of 2018.

Membership

The membership of the group was determined by election within the task force or by appointment through the formation team itself and includes qualified representatives from each of the defined task force segments. It was important to the task force that the members of the Governance Framework Formation Team represented all stakeholder perspectives in the effort. The composition is outlined in the attached, listed by segment.

Resources

Engage

  • Visit FasterPaymentsTaskForce.org for more information or to engage in the next phase of the faster payments initiative
  • Join the FedPayments Improvement Community