[toomuchtodo]

This will eventually be resolved, forward looking, as payment volume ramps on the Federal Reserve’s FedNow instant payment system [1] [2] [3]. Banks in the US are already regulated as a utility, for the most part.

[1] https://news.ycombinator.com/item?id=36801491 (“HN: FedNow is live)

[2] https://www.paymentsdive.com/news/fednow-rtp-bank-participat... (“FedNow zooms past RTP participation in inaugural year”)

[3] https://news.cision.com/fxc-intelligence/r/fednow--the-numbe... (“FedNow: the numbers one-year on”)