Cash, Check or Cell Phone? Protecting Consumers in a Mobile Finance World

February 23, 2010 - Washington, DC

Conference Materials


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. 
This forum is one step in our effort to collect the most up-to-date information on new developments and trends in this emerging field, and hear diverse perspectives about opportunities and concerns.  As mobile finance technologies, standards, and business models advance, the Federal Reserve will monitor their evolution to ensure that consumers are sufficiently protected as they take advantage of promising new products and services. 

We thank you for your participation, and look forward to a day of vigorous and informed conversation.


Sandy Braunstein
Director, Division of Consumer and Community Affairs
Board of Governors of the Federal Reserve System