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One of the goals of the Fereral Government is to let free markets work without intervention for as long as possible and to allow markets to resolve problems before government intervenes. The development of the mobile payments industry introduces a whole new cast of characters that complicates issues with regard to responsibility and liability, and as a preemptive measure, representatives of the Federal Reserve Bank met with stakeholders in mobile payments in the U.S. to learn where the industry is headed.
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