Interview: Brooking’s Aaron Klein on Faster Payments, Consumer Credit & the Fed

In this episode, I had the chance to chat with the Aaron Klein, the Miriam K. Carliner Chair and senior fellow in Economic Studies at the Brookings Institution.Aaron and I had a wide-ranging discussion on consumer payment and consumer credit regulation and public policy, including:* Why, despite the existence of The Clearing House RTP and FedNow, U.S. consumers don’t have widespread free or low-cost access to instant payments* The link between remote deposit capture, plane loads of checks, and 9/11* Consumer credit and small-dollar lending, including overdrafts, payday loans, and fintech apps such as EarnIn, Dave, and MoneyLion* Why someone with a bank account would use a check casher* And much more!A reminder, if you’re enjoying this show, please follow, rate & review on your preferred podcast platform, as it really helps others to find the show.And if you want to help support Fintech Business Weekly and independent journalism, upgrade to a paid subscription or reach more than 93,000+ listeners by sponsoring an episode. Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe