Board of Governors of the Federal Reserve System

The Federal Reserve, the central bank of the United States, provides the nation with a safe, flexible, and stable monetary and financial system.

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Lead Fin Inst Policy Analyst Reserve Bank Operations and Payment Systems

[email protected]

B.A., Media Studies/ Journalism, University of Trier, Germany, 2005
B.A., Communication, University of Southern California (USC) - Annenberg School of Communication, 2006
M.A., Communication Management, University of Southern California (USC) - Annenberg School of Communication, 2008

Lead Fin Inst Policy Analyst
Board of Governors of the Federal Reserve System
2020 - present

Pay-by-Bank and the Merchant Payments Use Case: Benefits, risks and potential impacts on consumer payment behaviors in the U.S.
Byoung Hwa Hwang
FEDS Notes (2025)
https://doi.org/10.17016/2380-7172.3834
Lessons from the History of the U.S. Regulatory Perimeter
Alexandros Vardoulakis, Asad Kudiya, Byoung Hwa Hwang, Courtney Demartini, Dan McGonegle, Gavin Smith, Jess Cheng, Katherine E. Di Lucido, Kathy Wilson, Jeffery Y. Zhang, Joseph Cox, Mary L. Watkins, Meg Donovan, Nicholas K. Tabor, Nick Ehlert, and Stacey L. Schreft
FEDS Notes (2021)
https://doi.org/10.17016/2380-7172.3007

Last Update: November 21, 2025

Meet the Researchers