IDEAS home Printed from
   My bibliography  Save this article

A legal analysis of a banking industry online identity and attribute authentication service for consumers and merchants


  • William Gram


This is a legal and risk analysis of an online identity and attribute authentication service developed by the Financial Agent Source Transaction (FAST) initiative of the Financial Service Technology Consortium (FSTC). The FSTC is a not-for-profit group organized to enhance the competitiveness of the financial services industry. Members include banks, financial services providers, research laboratories, universities, technology companies and government agencies. FSTC sponsors project-oriented, collaborative research and development on inter-bank technical projects affecting the financial services industry. A complete report on the FAST initiative will be available to FSTC members in September 2000 and to the general public by the late 2000. Contact the American Bankers Association web site at that time to download the paper or contact the writer at the email address below. ; During the FAST initiative, the author was the leader of the FAST Legal/Risk Workgroup. This paper is primarily the author's product with input from Patricia Allouise of the Federal Reserve Bank of Boston and Ann Spiotto of the Federal Reserve Bank of Chicago. The views expressed in this report are solely the writer's and do not necessarily reflect the views of any component of the Federal Reserve System or the Federal Reserve Bank of Chicago, the writer's employer. This report is written at a very general level and is designed to highlight issues and problems rather that give legal advice. The reader is advised to consult expert legal counsel before taking any action related to the views expressed in this report. The report addresses the following questions: (1) What is FAST and how does it work? (2) What are the legal risks and how might they be handled?

Suggested Citation

  • William Gram, 2000. "A legal analysis of a banking industry online identity and attribute authentication service for consumers and merchants," Emerging Issues, Federal Reserve Bank of Chicago, issue Sep.
  • Handle: RePEc:fip:fedhei:y:2000:i:sep:n:eps-2000-2

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fip:fedhei:y:2000:i:sep:n:eps-2000-2. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Bernie Flores). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.