Support legislation to modernize payment systems so Americans can send and receive money faster and with fewer fees, including direct access to federal payment rails for qualified providers.
Commitment kind: unknown. Promised action: not established. Promised outcome: not established. Deadline: unknown; not assumed expired.
Occurrences
introduced the Payments Access and Consumer Efficiency (PACE) Act to help Americans send and receive money faster and with fewer fees by modernizing how payment companies access payment rails
Liccardo announced and backed the PACE Act, which would modernize payment infrastructure and expand qualified providers' access to federal payment systems to reduce delays and fees.
The bipartisan Payment Access and Consumer Efficiency (PACE) Act helps solve this problem by modernizing our system to allow regulated payment firms to directly access some of the Federal Reserves payment rails with appropriate safeguards.
Liccardo co-introduces the PACE Act, which would modernize payment systems and give regulated payment firms direct access to certain Federal Reserve payment rails.
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Rep. Sam Liccardo and Rep. Young Kim introduced the Payments Access and Consumer Efficiency (PACE) Act to help Americans send and receive money faster and with fewer fees by modernizing how payment companies access payment rails. The release says the bill enables qualified providers to access federal payment systems directly.
Unverified model/legacy excerpt; not proof. AI summary (separate from source): Direct, on-point legislative support for faster/cheaper payments and direct access to federal rails; this is the clearest concrete step toward the stated commitment.
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The fact sheet says the PACE Act would let regulated payment firms directly access some Federal Reserve payment rails, including Fedwire, FedNow, and FedACH, under an optional federal supervisory framework.
Unverified model/legacy excerpt; not proof. AI summary (separate from source): Technical support for the same commitment, with explicit references to direct access to federal payment rails for qualified nonbank providers.
Fetched verbatim passage. AI summary (separate from source): Within the lookback window, GovInfo's Congressional Record Index still lists the Payments Access and Consumer Efficiency Act under H.R. 8395, with no newer enacted-law evidence found in the refresh.
Mrs. Kim (for herself and Mr. Liccardo) introduced
Fetched verbatim passage. AI summary (separate from source): Official GovInfo bill metadata confirms Liccardo was included in the introduction of H.R. 8395, directly satisfying the commitment to support this legislation during his House term.
access to Fedwire Funds Service, FedNow Service, and FedACH Services
Fetched verbatim passage. AI summary (separate from source): The introduced bill text contains the promised direct-access mechanism for federal payment rails through a payments reserve account covering Fedwire, FedNow, and FedACH.
Future of Payments: Promoting Innovation and Fair Markets
Fetched verbatim passage. AI summary (separate from source): The House Financial Services Committee held a payments-modernization hearing after the PACE Act was introduced, showing continued congressional activity around the same policy area.
Fetched verbatim passage. AI summary (separate from source): Witness testimony submitted for the official House hearing described the PACE Act as moving payment modernization toward direct Fed-rail access, matching the substance of Liccardo's supported legislation.
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Bills and resolutions Enact (see H.R. 8395), H3044 [21AP]
Unverified model/legacy excerpt; not proof. AI summary (separate from source): The official index entry ties the PACE Act to H.R. 8395 and the April 21 Congressional Record entry, with no later enacted-law record found in the lookback search.
Mrs. Kim (for herself and Mr. Liccardo) introduced the following bill; which was referred to the Committee on Financial Services
Fetched verbatim passage. AI summary (separate from source): Official bill metadata confirms Liccardo was part of the introduction of the PACE Act in the same House term.
includes access to Fedwire Funds Service, FedNow Service, and FedACH Services
Fetched verbatim passage. AI summary (separate from source): The introduced bill text contains the promised direct-access mechanism for federal payment rails.
By Mrs. KIM (for herself and Mr. LICCARDO): H.R. 8395.
Fetched verbatim passage. AI summary (separate from source): The Congressional Record independently records H.R. 8395's introduction with Liccardo named, confirming concrete legislative support.
Hearing Entitled: “Future of Payments: Promoting Innovation and Fair Markets”
Fetched verbatim passage. AI summary (separate from source): The House Financial Services Committee held a hearing on payment modernization after the PACE Act was introduced, showing continued official activity in the policy area.
Public state: unverifiedAs of unknown · legacy_unverified · . Original AI recommendation (not independently established): delivered.same_termA for effort
Liccardo directly sponsored bipartisan PACE Act legislation to modernize payment rails, explicitly aiming to make payments faster and cheaper and to give qualified providers direct access to federal payment systems. That is a concrete, on-point legislative action fulfilling the promise to support this policy change.
provider codex_cli · model gpt-5.4-mini · confidence 96%