Nearly three dozen executives from a variety of retailers and financial institutions, including members of the credit union industry, will take on key leadership roles as members of the steering committees of the Federal Reserve's Faster Payments Task Force and its Secure Payments Task Force, according to the Federal Reserve.

The task forces are part of a plan the central bank set in motion in January to improve the country's payments system. Their steering committees will advise the Federal Reserve on meeting agendas and help prioritize various task force activities, as well as help form and recommend the scope of work groups, synthesize task force perspectives and determine what the task forces should deliberate.

The Faster Payments Task Force, which has 325 members, will identify and evaluate alternative approaches for implementing safe, ubiquitous, faster payments capabilities in the United States, the Federal Reserve said. According to a written summary of its latest meeting, which occurred June 15-16 in Chicago, the task force plans to publish its evaluation and recommendations for approach proposals sometime between June and December 2016.

The Secure Payments Task Force, which has about 150 members, will advise the Federal Reserve on payment security matters; it will also identify and promote actions that payment system participants or the Federal Reserve System can take. That task force met for the first time in June.

“We are thrilled to have the commitment, expertise and perspectives of these individuals to help us identify opportunities to advance the speed and security of U.S. payments,” Federal Reserve Payments Strategy Director Gordon Werkema said in regard to the steering committee members. “The task forces have chosen an outstanding team to help guide these efforts and provide a balanced representation of payment stakeholder interests.”

The following people were elected to the Faster Payments Task Force steering committee:

Gary Beets, Fiscal Service, Department of the Treasury

Wanda Chambers, Suncoast Credit Union ($6.5 billion, Tampa, Fla.)

Mitch Christensen, Wells Fargo & Company

Roy DeCicco, Accredited Standards Committee X9

John Drechny, Wal-Mart Stores, Inc.

Janet Estep, The Electronic Payments Association

Peter Gordon, FIS

Mark Keeling, The Bankers Bank

Jordan Lampe, Dwolla, Inc.

Steve Ledford, The Clearing House

Edward Mundt, Hard Rock Café International

Bob Steen, Bridge Community Bank

Gary Stein, CFPB

Christina Tetreault, Consumers Union

James Reuter, FirstBank Colorado

Thomas Rea, U.S. Bank

Susan Weinstock, The Pew Charitable Trusts

W. Bradley Wilkes, WingCash LLC

Ryan Zagone, Ripple Labs

The following people were elected to the Secure Payments Task Force steering committee:

Trent Addington, Best Buy

Dave Faoro, Verifone, Inc.

Chris Gilbert, Bankers' Bank of Kansas

Terrence Griffin, CO-OP Financial Services

Reed Luhtanen, Wal-Mart Stores, Inc.

Suzanne Martindale, Consumers Union

Anthony Meholic, The Bancorp

Cedric Menchion, Killeen Independent School District

Stephen Mott, BetterBuyDesign

Nancy O'Malley, MasterCard

Brian Peretti, Department of the Treasury, OCIP

Frank Perrelli, BNY Mellon

Stephen Ranzini, University Bank

Victoria Strayer, TSYS

Glen Ulrich, U.S. Bank

Matt Wilcox, Fiserv

Instant Insights /

Credit Union Industry Execs Land on Fed Committees

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