On behalf of the Federal Reserve Board of Governors, I’d like to welcome you to our Emerging Issues Forum: "Cash, Check, or Cell Phone?" Protecting Consumers in a Mobile Finance World.
While the Federal Reserve works to address the challenging issues of today’s economy, we are also committed to looking to the horizon for emerging issues--such as mobile banking and mobile payments--that will significantly affect consumers.
The innovations in mobile finance now underway will change the way consumers conduct financial transactions with their bank, merchants, and other consumers. We are optimistic about the opportunities presented by these technological advances, which have the potential to benefit consumers of all income levels. At the same time, we also see possible risks and recognize that they demand our attention.
We thank you for your participation, and look forward to a day of vigorous and informed conversation.