Federal Reserve Names Strategy Director to Oversee Payment Systems

WASHINGTON—Dave Sapenaro has been named payments strategy director by the Federal Reserve and will be responsible for leading payment system improvement initiatives.
Sapenaro currently serves as first vice president and chief operating officer of the Federal Reserve Bank of St. Louis. He will continue in this role as he assumes this new responsibility.
As payments strategy director, Sapenaro will lead the Federal Reserve's strategies related to faster payments, payments security and stakeholder engagement, noted NAFCU.
NAFCU serves on both the Fed's Faster Payments Task Force and the Secure Payments Task Force. The association has urged the Fed against a “one size fits all” approach in determining the payments system’s future.