Federal Independent Agencies
Here's a look at documents from federal independent agencies
Featured Stories
ICYMI: Administrator Zeldin in The Hill: EPA Highlights How Reducing Food Waste Matters for All Americans
WASHINGTON, Dec. 29 -- The Environmental Protection Agency issued the following news release:
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ICYMI: Administrator Zeldin in The Hill: EPA Highlights How Reducing Food Waste Matters for All Americans
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WASHINGTON - On Christmas Eve, U.S. Environmental Protection Agency (EPA) Administrator Lee Zeldin published an op-ed in The Hill Exit EPA's website highlighting the agency's role in helping to curb food waste across the country during this holiday season and beyond. With nearly one-third of all food in the United States being discarded every year, EPA has launched the Feed It Onward initiative
... Show Full Article
WASHINGTON, Dec. 29 -- The Environmental Protection Agency issued the following news release:
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ICYMI: Administrator Zeldin in The Hill: EPA Highlights How Reducing Food Waste Matters for All Americans
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WASHINGTON - On Christmas Eve, U.S. Environmental Protection Agency (EPA) Administrator Lee Zeldin published an op-ed in The Hill Exit EPA's website highlighting the agency's role in helping to curb food waste across the country during this holiday season and beyond. With nearly one-third of all food in the United States being discarded every year, EPA has launched the Feed It Onward initiativeto connect surplus food with people and organizations that make use of it and reduce its chances of being discarded in landfills. EPA's efforts in redirecting food waste increases access to healthy meals for families, allows farmers and businesses to find new value in products, and allows communities to strengthen the systems that help keep America fed.
Read what Administrator Zeldin had to say :
"As Americans gather throughout the holiday season, we are surrounded by the traditions that bring families and communities together. Across the country, tables are full, neighborhoods are active, and people are taking time to connect with those who matter most. This season of sharing also reminds us of a simple truth: Good, nutritious food should be consumed, not wasted.
"More than one-third of all food in the U.S. is discarded each year. We can do better, and we are doing better. When surplus food is reduced, redirected, or repurposed, families gain access to healthy meals, farmers and businesses find new value in products that might otherwise go unused, and communities strengthen the systems that help keep America fed. Leaning into food waste reduction is a common sense, critical effort that will help make America healthy again.
"Throughout my travels to all fifty states this year, I have seen how local leadership is driving this progress. Communities are finding practical ways to make better use of the food moving throughout their supply chains. When people coordinate, share ideas, and build on each other's strengths, families thrive, businesses benefit, and the entire system becomes stronger.
"The vision behind the EPA's Feed It Onward initiative is straightforward: to share the stories of individuals and organizations across the nation who are addressing food waste. The initiative aims to connect surplus food with people and organizations that can make use of it. Good food should not be discarded in landfills when it can serve a meaningful purpose.
"Kansas City offers a compelling example of what is possible, which I witnessed firsthand when I visited Kanbe's Markets there and met with the team from Pete's Garden and KC Can Compost. I left encouraged by how local leaders are building real, community-driven solutions that work.
"Kanbe's has created a model that moves good-to-eat produce into neighborhood stores that traditional distribution often overlooks. Their work strengthens small retailers, fills access gaps, and ensures that families can purchase fresh fruits and vegetables that might otherwise be thrown away.
"Pete's Garden repackages surplus meals from restaurants and caterers into take-home dinners for families. KC Can Compost broadens composting access for homes and businesses. Together, these groups have diverted millions of pounds of food from landfills feeding families, supporting farmers, and enriching soil. It is a full-circle model and a clear example of what communities can accomplish when they coordinate and share resources.
"This summer, I visited Scott Air Force Base in Southern Illinois for the launch of EPA's first Feed It Onward Partnership. Working with Frey Farms, we redirected produce that would have been thrown away just for being labeled 'imperfect.' Rather than end up in a landfill, truckloads of fresh watermelons, corn, and pumpkins went straight to military families. This is a clear example of the difference that Feed It Onward aims to make.
"Big venues around the country are also working hard to reduce food waste. During my visit to Talladega Superspeedway in Alabama, I participated in efforts between NASCAR, Denali Water, and Levy to cut food waste at the track.
"I also toured the Kia Center, home to the Orlando Magic, whose arena managers have partnered with Levy to redirect surplus food to local organizations. Even in fast-paced and high-volume environments, effective planning can turn surplus food into valuable resources for the community.
"This issue is gaining global attention. At the G7 Energy and Environment Ministers' Meeting in Toronto, I spoke with counterparts from around the world and the idea struck a chord, as many shared that they want to learn from the U.S. in this regard, to tackle this challenge in their own countries.
"As the U.S. prepares for the 2026 FIFA World Cup and 2028 Olympic Games, there's an opportunity to showcase our nation's efforts in reducing food waste. These events will highlight the partnerships driving our country forward.
"The holiday season underscores why this effort matters. Every community wants good food to reach families who can use it. Every farmer, business, and partner wants his or her work to have an impact. EPA's Feed It Onward initiative helps make those connections a reality."
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Original text here: https://www.epa.gov/newsreleases/icymi-administrator-zeldin-hill-epa-highlights-how-reducing-food-waste-matters-all
EPA Fulfills Statutory Obligation, Completes Reviews at 32 Superfund Sites Across New Jersey, New York and Puerto Rico
WASHINGTON, Dec. 29 -- The Environmental Protection Agency issued the following news release:
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EPA Fulfills Statutory Obligation, Completes Reviews at 32 Superfund Sites Across New Jersey, New York and Puerto Rico
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New York, N.Y. \- U.S. Environmental Protection Agency (EPA) has fulfilled its statutory obligation and completed required comprehensive site cleanup reviews, known as "five-year reviews," for 32 Superfund sites on the National Priorities List across New Jersey, New York and Puerto Rico during 2025.
As required by law, every five years EPA conducts reviews at Superfund sites
... Show Full Article
WASHINGTON, Dec. 29 -- The Environmental Protection Agency issued the following news release:
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EPA Fulfills Statutory Obligation, Completes Reviews at 32 Superfund Sites Across New Jersey, New York and Puerto Rico
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New York, N.Y. \- U.S. Environmental Protection Agency (EPA) has fulfilled its statutory obligation and completed required comprehensive site cleanup reviews, known as "five-year reviews," for 32 Superfund sites on the National Priorities List across New Jersey, New York and Puerto Rico during 2025.
As required by law, every five years EPA conducts reviews at Superfund sitesfollowing the implementation of a cleanup. This comprehensive review of previous work helps ensure that EPA continues to evaluate the performance of cleanup efforts and determines whether any further action to protect human health and the environment is required.
The five-year review for each of the sites are available on EPA's website. These reviews concluded that the remedies continue to be effective in protecting human health and the environment and made recommendations for follow up actions where needed.
Completed Five Year Reviews in Year 2025:
New Jersey
Asbestos Dump - Millington/Meyersville, Morris County
Chemsol, Inc - Middlesex County
Dover Well #4 - Morris County
Ellis Property - Burlington County
Global Sanitary Landfill - Old Bridge Township, Middlesex County
Helen Kramer Landfill - Gloucester County
Hercules Inc - Gibbstown Plant - Gibbstown, Gloucester County
Imperial Oil - Monmouth County
Jackson Township Landfill - Burlington County
Johnson & Towers - Mount Laurel, Burlington County
King of Prussia - Winslow Township, Camden County
Montgomery Township Housing Development and Rocky Hill Municipal Well Sites - Montgomery Township
Rockaway Borough Well - Rockaway Borough
Rockaway Township Wells - Morris County
New York
Carroll & Dubies Sewage Disposal - Town of Deerpark, Orange County
Circuitron Corp - East Farmingdale, Suffolk County
Colesville Municipal Landfill - Broome County, Town of Colesville
FMC (Dublin Road Landfill) - Township of Ridgeway and Shelby, Orleans County
Genzale Plating Co - Nassau County
General Motors (Central Foundry Division) - Franklin County
Gowanus Canal - Kings County
Hertel Landfill - Ulster County
Kentucky Avenue Well Field - Chemung County
Lawrence Aviation - Port Jefferson Station, Suffolk County
LI Tungsten Corp - Nassau County
Mattiace Petrochemical Co. - Nassau County
Onondaga Lake - Various Cleanup Actions - Onondaga County
Ramapo Landfill - Rockland County, Town of Ramapo
Volney Municipal Landfill - Oswego County
Puerto Rico
Barceloneta Landfill - Barceloneta
Corozal Well - Corozal
Vega Baja Solid Waste Disposal - Vega Baja
Background
The Superfund program, a federal program established by Congress in 1980, investigates and cleans up the most complex, uncontrolled, or abandoned hazardous waste sites in the country and endeavors to facilitate activities to return them to productive use. There are many phases of the Superfund cleanup process, including considering future use and redevelopment at sites and conducting post cleanup monitoring of sites.
Throughout the process of designing and constructing a cleanup at a hazardous waste site, EPA's primary goal is to protect human health and the environment, the agency's core mission. EPA is required by statute to review the sites every five years after the cleanup is in place. It is important for EPA to regularly check to ensure the cleanup is working properly. These reviews confirm that the remedies put in place continue to be effective or identify any issues (that may affect the protectiveness of the cleanup and, if necessary, recommend action(s) to address them.
For more information about EPA's Superfund program, visit www.epa.gov/superfund.
Follow EPA Region 2 on X Exit EPA's website, Instagram Exit EPA's website, and visit our Facebook Exit EPA's website page. For more information about EPA Region 2, visit our website.
25-061
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Original text here: https://www.epa.gov/newsreleases/epa-fulfills-statutory-obligation-completes-reviews-32-superfund-sites-across-new
Administrator Loeffler Fulfills Pledge, Donates SBA Pay to Charity
WASHINGTON, Dec. 29 -- The Small Business Administration posted the following news release:
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Administrator Loeffler Fulfills Pledge, Donates SBA Pay to Charity
Today, the U.S. Small Business Administration (SBA) announced that Administrator Kelly Loeffler has fulfilled the pledge Link is external she made upon re-entering public office to donate her annual federal pay once again to philanthropic organizations. The donations made each quarter of 2025 supported numerous nonprofits including disaster relief organizations that responded to the Texas Hill Country floods and the western Alaska
... Show Full Article
WASHINGTON, Dec. 29 -- The Small Business Administration posted the following news release:
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Administrator Loeffler Fulfills Pledge, Donates SBA Pay to Charity
Today, the U.S. Small Business Administration (SBA) announced that Administrator Kelly Loeffler has fulfilled the pledge Link is external she made upon re-entering public office to donate her annual federal pay once again to philanthropic organizations. The donations made each quarter of 2025 supported numerous nonprofits including disaster relief organizations that responded to the Texas Hill Country floods and the western Alaskatyphoon; the West Virginia National Guard Foundation, and groups dedicated to empowering America's youth, such as the Turning Point USA Foundation. The contributions build on Administrator Loeffler's prior public service, when she also donated Link is external her federal pay as a U.S. Senator from Georgia.
"Like President Trump, Administrator Loeffler stepped away from a successful private sector career to serve the country because she is deeply committed to fulfilling the promise of the America First agenda. This commitment is reflected both in her work at the SBA, which had a record year, and her decision to donate her federal salary to charity," said SBA Spokesperson Maggie Clemmons. "Her contributions benefitted an array of organizations, including nonprofits working to support disaster survivors, servicemembers, and America's next generation - and she looks forward to continuing this tradition as she continues the fight for America's future, especially on Main Street."
Administrator Loeffler made donations to the following organizations, by quarter:
First Quarter
* Kids2Leaders
Second Quarter
* Kerry County Flood Relief Fund
* Samaritan's Purse
* Texans on Mission
* TEXSAR
Third Quarter
* Turning Point USA Foundation
Fourth Quarter
* Team Rubicon - Alaska Anchorage
* The American Red Cross of Alaska
* West Virginia National Guard Foundation
About the U.S. Small Business Administration
The U.S. Small Business Administration helps power the American dream of entrepreneurship. As the leading voice for small businesses within the federal government, the SBA empowers job creators with the resources and support they need to start, grow, and expand their businesses or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.
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Original text here: https://www.sba.gov/article/2025/12/29/administrator-loeffler-fulfills-pledge-donates-sba-pay-charity
Inter-American Development Bank: 'Navigating School Journeys: Barriers and Enablers for Children and Caregivers in Nassau, Bahamas'
WASHINGTON, Dec. 24 (TNSLrpt) -- The Inter-American Development Bank issued the following white paper in December 2025 entitled "Navigating School Journeys: Barriers and Enablers for Children and Caregivers in Nassau, Bahamas."
Here are excerpts:
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Abstract
This study explores the multiple enablers and barriers to school transportation and their broader social implications in Nassau, the capital of The Bahamas. We examine the complex interplay between physical, functional, and social factors shaping children's, parents ', and caregivers' daily access to school. A central revelation is the
... Show Full Article
WASHINGTON, Dec. 24 (TNSLrpt) -- The Inter-American Development Bank issued the following white paper in December 2025 entitled "Navigating School Journeys: Barriers and Enablers for Children and Caregivers in Nassau, Bahamas."
Here are excerpts:
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Abstract
This study explores the multiple enablers and barriers to school transportation and their broader social implications in Nassau, the capital of The Bahamas. We examine the complex interplay between physical, functional, and social factors shaping children's, parents ', and caregivers' daily access to school. A central revelation is theprofoundly gendered nature of school transportation responsibilities in Nassau, with women constituting 83% of our sample who organize or undertake these daily journeys. Drawing on semi-structured interviews, focus groups, and a survey of 477 caregivers across Nassau, we adopt a mixed-methods approach combining descriptive statistics, factor analysis, and cluster modelling. We identify four distinct groups based on their perceptions of traffic safety, harassment risks, and climate-related barriers, including one cluster for whom flooding and other extreme weather concerns are central drivers of school transportation challenges. Our findings reveal that inadequate infrastructure, minimal enforcement of school zone traffic laws, and the perceived threat of harassment or violence pose significant barriers to children's safe and enjoyable access to education. At the same time, extended family support and targeted school-zone measures emerge as notable enablers, alleviating some of the burdens placed on caregivers. Building on these insights, we offer evidence-based recommendations for policy and practice, underscoring the need for cross-sector collaboration to enhance infrastructure, strengthen traffic law enforcement, and address social vulnerabilities. By highlighting cluster-specific concerns--from gender-based violence to climate impacts--this paper provides a nuanced understanding of how school transportation challenges intersect with gender norms and broader societal issues, offering practical pathways toward more inclusive and resilient mobility systems for children and their caregivers. The paper also outlines future research directions around the consequences of these barriers and enablers for caregivers' time use, labor participation and well-being.
1. Introduction
School transportation in the urban Caribbean presents various challenges that can limit children's access to education and place a particular burden on caregivers, most of whom are women. In Nassau, the capital of The Bahamas, these challenges become more apparent given rising poverty rates, pronounced inequalities, and insufficient transportation infrastructure. Although The Bahamas is classified as a high-income country, recent data indicates that the lowest 40% of the population accounts for only 16% of total consumption, highlighting uneven access to the resources required for reliable mobility, and signaling inequalities in the ability of different households to navigate access to school (The World Bank, 2023).
In Nassau, fragmented public transit services and inadequate pedestrian infrastructure lead to concerns about cost, safety, and the time needed to ensure children arrive at school without incident for families relying on these transportation options. Studies in other Global South contexts show that absent or poorly maintained infrastructure and a lack of traffic safety measures can make children's commutes hazardous, contributing to an over-reliance on motorized transportation (Aranda-Balboa et al., 2020). Private vehicle dependency for school commutes disrupts household schedules, the distribution of caregiving responsibilities, and contributes to congestion across the city, particularly during drop-off and pick-up school peak times. Research has also identified concerns about crime and harassment as significant factors in many caregivers' decisions to avoid walking or using public transportation, which further limits the feasibility of less expensive and active travel options (Montoya-Robledo et al., 2020; Roy et al., 2024).
Despite its relevance for households and the city's mobility, and after checking on specialized academic databases, there has been no prior research on the various determinants of access to school in The Bahamas. Furthermore, there is currently no empirical evidence on the strategies children, and their caregivers use to secure access to school or the consequences they face on individual, household, and community scales. Therefore, as the first study that examines what transportation barriers and enablers children and their caregivers of different income levels and neighborhood characteristics face when traveling to and from school in Nassau, this paper serves to fill an important gap in the research on school transportation.
Understanding how school transportation barriers intersect with gendered caregiving responsibilities is central to this objective. Numerous studies have shown that women bear a disproportionate share of household and caregiving tasks, often involving arranging or accompanying children during daily commutes (Schwanen, 2008; McDonald, 2008). In contexts with limited transportation services, these responsibilities can lead to decreased labor market participation, increased time poverty, and emotional strain (Schwanen et al., 2015).
Societal norms regarding children's independence, along with concerns about road safety or harassment, may further drive protective behaviors, such as insisting on private vehicle use or close supervision (Montoya-Robledo et al., 2020).
These gendered mobility patterns have been observed in various urban areas worldwide but have received little attention in Caribbean islands, beyond occasional mentions of youth safety in high-crime neighborhoods (Roy et al., 2024; Sener et al., 2019). Recent demographic shifts in The Bahamas, including rising unemployment, food insecurity, and changing household sizes (The Government of The Bahamas, 2023; Karpyn et al., 2021), increase the need to examine how caregivers navigate daily journeys to school amidst financial and infrastructural stress. Additionally, climate-related factors further complicate access to schools. Storms and heavy rainfall can disrupt transportation operations and render parts of existing infrastructure unusable, while extreme heat makes it difficult for everybody (but particularly for vulnerable population groups) to travel by non-motorized means. Extreme heat also makes the use of public transit more challenging, disrupting the functional aspect of mobility in cities like Nassau (UNDP, 2025).
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View full text here: https://publications.iadb.org/publications/english/document/Navigating-School-Journeys-Barriers-and-Enablers-for-Children-and-Caregivers-in-Nassau-Bahamas.pdf
[Category: IADB]
Inter-American Development Bank: 'Bridging Skills and Employment: A Review of Advanced Digital Skills Training, Online Labor Market Programs, and Innovative Training Methodologies'
WASHINGTON, Dec. 24 (TNSLrpt) -- The Inter-American Development Bank issued the following white paper in Decembr 2025 entitled "Bridging Skills and Employment: A Review of Advanced Digital Skills Training, Online Labor Market Programs, and Innovative Training Methodologies."
Here are excerpts:
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1. Introduction
Digital technologies are reshaping labor markets, creating both new demands and possibilities for the design of active labor market policies (programs that support individuals' integration into the labor market). In many countries, a considerable proportion of firms are unable to
... Show Full Article
WASHINGTON, Dec. 24 (TNSLrpt) -- The Inter-American Development Bank issued the following white paper in Decembr 2025 entitled "Bridging Skills and Employment: A Review of Advanced Digital Skills Training, Online Labor Market Programs, and Innovative Training Methodologies."
Here are excerpts:
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1. Introduction
Digital technologies are reshaping labor markets, creating both new demands and possibilities for the design of active labor market policies (programs that support individuals' integration into the labor market). In many countries, a considerable proportion of firms are unable tofind workers with the necessary digital skills to fill their job vacancies (e.g., Novella and RosasShady, 2023a; 2023b; Baptista et al., 2023a). This has fueled growing interest in training programs aimed at equipping jobseekers with digital skills, as well as in training modalities that leverage emerging digital tools.1 Yet, evidence on the effectiveness of these programs remains limited, particularly rigorous impact evaluations based on credible estimation strategies. This document reviews the evidence from 26 such evaluations, 15 of which were published in 2024 or later. Despite the limited evidence base, policy recommendations are beginning to emerge regarding program design. These interventions show promise in achieving their intended outcomes, but also reveal important limitations that policymakers should address.
The present paper analyzes three types of interventions: (i) digital skills bootcamps and other advanced digital skills training programs; (ii) programs to improve online labor market outcomes; and (iii) Massive Open Online Courses (MOOCs) and other new methodologies of delivering training programs. Before turning to the systematic review of the literature, we first summarize some of the main findings on the effectiveness of these three types of programs: Digital skills bootcamps and other advanced digital skills training programs. Only nine studies have evaluated these programs using robust empirical methods -- a surprisingly small number for an industry that generated over USD $800 million globally in training alone in 2024.
Moreover, the limited evidence that does exist largely focuses on short-term impacts.
Evidence suggests that these programs can support transitions into technology-related jobs and increase earnings in some contexts, particularly when they included direct employer linkages (such as internships), but overall labor market impacts and cost-effectiveness remain unclear. Some studies suggest that null results for overall employment may be due to participants holding out for tech jobs rather than accepting lower-skilled positions for which they are already qualified.
Programs to improve online labor market outcomes. Evaluations of these programs raise important questions about scalability, accessibility, and long-term effectiveness. While some programs -- particularly those delivered online -- offer potential for scale, low completion rates persist as a major challenge. Complementary interventions to boost completion, such as personalized tutoring, have raised costs (e.g., to over USD $700 per person) without generating proportional improvements in completion or impact. Moreover, evidence suggests that while many participants gain initial access to digital platforms, their success is often shortlived without strong technical skills and job-matching support. In-person training appears to be more effective in improving completion rates.
MOOCs and other new methodologies of delivering training programs. Evidence of these programs offers valuable insights for scaling effective training interventions, though it also reveals key limitations. For example, while MOOCs have the potential to distribute content at scale, a significant downside is their low completion rates, often in the single digits -- with males, wealthier individuals, and those with strong non-cognitive skills being more likely to complete them. This pattern of selective completion suggests that while providing free access to MOOCs theoretically offers high-quality training to all, economic constraints -- such as the cost of sustained internet access or the opportunity cost of time -- still likely affect course completion. As a result, MOOCs may primarily benefit those who already have the resources and skills to engage fully. Light-touch interventions, such as reminders, have proven insufficient to improve completion rates. Similarly, emerging evidence on generative AI-based training tools suggests that these technologies can effectively boost productivity, but evidence on who benefits the most is mixed.
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View full text here: https://publications.iadb.org/publications/english/document/Bridging-Skills-and-Employment-A-Review-of-Advanced-Digital-Skills-Training-Online-Labor-Market-Programs-and-Innovative-Training-Methodologies.pdf
[Category: IADB]
Edward C. Forst Sworn in as GSA Administrator
WASHINGTON, Dec. 24 -- The General Services Administration issued the following news release:
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Edward C. Forst Sworn in as GSA Administrator
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INDIAN RIVER SHORES, FL Today, Edward C. Forst was sworn in as Administrator of the General Services Administration (GSA) by the Honorable Brian T. Foley, mayor of Indian River Shores. Administrator Forst, a Florida resident, is in the state honoring his civic duty locally as a potential juror, and now federally, as the Trump Administration's new GSA Administrator.
Although federal officials are typically sworn-in to office in Washington D.C.,
... Show Full Article
WASHINGTON, Dec. 24 -- The General Services Administration issued the following news release:
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Edward C. Forst Sworn in as GSA Administrator
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INDIAN RIVER SHORES, FL Today, Edward C. Forst was sworn in as Administrator of the General Services Administration (GSA) by the Honorable Brian T. Foley, mayor of Indian River Shores. Administrator Forst, a Florida resident, is in the state honoring his civic duty locally as a potential juror, and now federally, as the Trump Administration's new GSA Administrator.
Although federal officials are typically sworn-in to office in Washington D.C.,Administrator Forst beginning his service as a member of the Trump Administration in a local Florida community demonstrates his commitment to civic responsibility on a state and national level. Ed will bring this dedication and love of country to GSA and its mission.
"I'm honored that President Trump put his trust in me and I thank Mayor Foley for taking the time to swear me in as GSA Administrator on such short notice," said GSA Administrator Ed Forst. "Over the past four months I've met with GSA employees, listened to what's working well and what we can be doing better. I'm fired up to get to work and proud to start serving in President Trump's Administration for the American people."
Administrator Forst brings nearly four decades of experience in financial services, real estate, and executive management to GSA. He previously served in the U.S. Government as an Advisor to the Secretary of the Treasury and has held executive positions at numerous global firms, including as President and Chief Executive at Cushman & Wakefield, and as a member of the Management Committee at Goldman, Sachs & Co. where he was co-head of the Investment Management Division and Executive Vice President and Chief Administrative Officer.
"Today is a reminder of what public service looks like at its best," said Mayor Brian Foley. "I am proud to swear in a GSA Federal administrator who didn't look for an excuse to delay, but instead honored jury duty during the week of Christmas and still stepped forward to be sworn in so he could immediately begin serving the public. That choice speaks volumes about his character. Our community and the government as a whole is stronger when leaders live those values. I couldn't be more pleased to welcome him into service."
Administrator Forst's nomination received strong support following his testimony before the Senate Committee on Homeland Security and Governmental Affairs and he was confirmed by the U.S. Senate on December 18, 2025.
About GSA: GSA provides centralized procurement and shared services for the federal government. GSA manages a nationwide real estate portfolio of over 360 million rentable square feet, oversees more than $110 billion in products and services via federal contracts, and delivers technology services that serve millions of people across dozens of federal agencies. GSA's mission is to deliver the best customer experience and value in real estate, acquisition, and technology services to the government and the American people. For more information, visit GSA.gov and follow us at @USGSA.
Contact
press@gsa.gov
***
Original text here: https://www.gsa.gov/about-us/newsroom/news-releases/edward-c-forst-sworn-in-as-gsa-administrator-12242025
Inter-American Development Bank: 'When Interoperability Increases Market Power: Evidence From Peru's Instant Payment Systems'
WASHINGTON, Dec. 24 (TNSLrpt) -- The Inter-American Development Bank issued the following white paper in December 2025 entitled "When Interoperability Increases Market Power: Evidence from Peru's Instant Payment Systems."
Here are excerpts:
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1 Introduction
The rapid expansion of instant payment systems promises substantial economic benefits, including lower transaction costs and enhanced financial inclusion. Central to realizing these benefits is interoperability: seamless connectivity among banks, digital wallets, and fintech providers.
Increasingly, regulators worldwide are mandating
... Show Full Article
WASHINGTON, Dec. 24 (TNSLrpt) -- The Inter-American Development Bank issued the following white paper in December 2025 entitled "When Interoperability Increases Market Power: Evidence from Peru's Instant Payment Systems."
Here are excerpts:
* * *
1 Introduction
The rapid expansion of instant payment systems promises substantial economic benefits, including lower transaction costs and enhanced financial inclusion. Central to realizing these benefits is interoperability: seamless connectivity among banks, digital wallets, and fintech providers.
Increasingly, regulators worldwide are mandatinginteroperability to foster competition, stimulate innovation, and facilitate market entry (Bianchi et al., 2023; Brunnermeier et al., 2023).1 However, whether mandated interoperability genuinely enhances competition or unintentionally strengthens incumbent market power remains empirically unresolved and theoretically ambiguous. On the one hand, interoperability could reduce entry barriers, encourage consumer switching, and promote competition. On the other hand, it might disproportionately advantage incumbents by amplifying existing network effects, thereby increasing market concentration. Understanding these outcomes is critical given their direct implications for regulatory policy and financial inclusion.
This paper provides the first empirical analysis of mandated interoperability's economic impact, exploiting Peru's recent policy intervention as a quasi-natural experiment. Prior to 2023, Peru's digital payments market was fragmented into two dominant but non-interoperable mobile wallets: Yape, launched by Banco de Credito del Peru (BCP) in 2016, and Plin, introduced in 2020 by Interbank, BBVA, and Scotiabank. In March 2023, Peru's central bank, Banco Central de Reserva del Peru (BCRP), mandated interoperability between these platforms via mobile numbers, extending the mandate in September 2023 to include all banking apps and QR payment systems.
Our research addresses three unanswered questions. First, does mandated interoperability enhance competition by lowering entry barriers and reducing incumbent market power? Second, how does interoperability influence banks' market strategies, particularly regarding deposit pricing and branch-network decisions? Third, what are the unintended distributional effects of mandated interoperability on financial inclusion? These questions remain open, as prior studies largely focus on native interoperability scenarios--such as India's Unified Payments Interface and Brazil's Pix--which typically demonstrate positive outcomes (Sarkisyan, 2023; Alok et al., 2024a), leaving the effects of mandated interoperability largely unexplored.
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View full text here: https://publications.iadb.org/publications/english/document/When-Interoperability-Increases-Market-Power-Evidence-from-Perus-Instant-Payment-Systems.pdf
[Category: IADB]
