Name: Eileen O'Mara: We support bipartisan efforts like the PACE Act because it enables companies focused on payments to access FedRails directly, subject to appropriate rigorous regulation, so we can build a more resilient, innovative system for American businesses.
Uploaded: 2026-06-24T14:00:00+00:00
Duration: 25 s
Description: We support bipartisan efforts like the PACE Act because it enables companies focused on payments to access FedRails directly, subject to appropriate rigorous regulation, so we can build a more resilient, innovative system for American businesses.

0:25

Eileen O'Mara

46:54 - 47:20

"We support bipartisan efforts like the PACE Act because it enables companies focused on payments to access FedRails directly, subject to appropriate rigorous regulation, so we can build a more resilient, innovative system for American businesses."

“We support bipartisan efforts like the PACE Act because it enables companies focused on payments to access FedRails directly, subject to appropriate rigorous regulation, so we can build a more resilient, innovative system for American businesses.”

Speaker: Eileen O'Mara
Timestamp: 46:54 – 47:20
Source: House Financial Services: Future of Payments
Community: Alaska News
Captured at: June 24, 2026

From the transcript

Payments works differently. We hold funds in transit. We don't lend and we do not invest them. The risks we manage are real, but they require a different kind of regulation. We support bipartisan efforts like the PACE Act because it enables companies focused on payments to access FedRails directly, subject to appropriate rigorous regulation, so we can build a more resilient, innovative system for American businesses.

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