
Eileen O'Mara
103:30 - 104:24
"it's incomprehensible that United States is the only G7 country without the faster payments regulation. So if we do not act now and take steps to pass this legislation like my PACE Act, we are at risk of falling behind at the cost of our working families and small businesses."
“it's incomprehensible that United States is the only G7 country without the faster payments regulation. So if we do not act now and take steps to pass this legislation like my PACE Act, we are at risk of falling behind at the cost of our working families and small businesses.”
If the PACE Act were enacted, it would provide a framework for us to work with small businesses and give them a lot more confidence and credibility in the flow of funds and on their ability to make a solid plan on when and how they can extend their business models, who they can hire, but most importantly, it will give them confidence in the system. Today, with the patchwork quilt that we have to operate in, operate in, a lot of small businesses are challenged with just knowing when that money will clear and then will they have access to it for the services that they have already delivered. You know, it's incomprehensible that United States is the only G7 country without the faster payments regulation. So if we do not act now and take steps to pass this legislation like my PACE Act, we are at risk of falling behind at the cost of our working families and small businesses. I want to thank you so much for your support on that.