Changes announced to U.S. Banking System, will railroads be impacted?

[Convicted One]

JPS1

One would need access to the books of a company, specifically the daily cash schedule, to know what impact, if any, the new system will have on an entity's cash management. 

Well, when the original post specified "especially those (railroads) that are not so financially stable" I just thought it was safe to assume that "float" was critical to their financial culture.

At first I suspected this thread was just another joke thread, tying railroads to an off topic discussion as a silly tool of protest. 

But then as I got to thinking about it, I realized that in order to implement this program, big brother is going to have to allow the other shoe  to hit the floor as far as how widely available our personal information is to most businesses.

The noose is tightening once again.

[JPS1]

Convicted One

 Personally, I believe that if the new law forces some of the deadbeats out of the railroad industry, it will be a good thing.  

Here is a link to the Federal Reserve Board's August 5, 2019 Press Release:

https://www.federalreserve.gov/newsevents/pressreleases/other20190805a.htm

One would need access to the books of a company, specifically the daily cash schedule, to know what impact, if any, the new system will have on an entity's cash management. 

[BaltACD]

If your financial plan depends upon float - you are already bankrupt.

[Convicted One]

Personally, I believe that if the new law forces some of the deadbeats out of the railroad industry, it will be a good thing. 

[CMStPnP]

I read an article this week that a few weeks ago the Federal Reserve announced it was moving to a real time payment system nationwide.   Which means that there isn't going to be anymore check clearing float and if you write a check it will be immediately payable on presentation, identical to cash.    They project the system will be fully implemented in the next 4 years.    I wonder if there is any implications for railroads, especially those that are not so financially stable?    Just curious  as this could be a fairly big change for those companies or individuals living paycheck to paycheck that used the float in the past.