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Bank Appoints Payment Cards Center Director

For immediate release
Contact: Katherine Dibling, senior media representative, (215) 574-4119

Philadelphia, Pa. – The Federal Reserve Bank of Philadelphia has promoted Robert Hunt to assistant vice president in the Bank's Payment Cards Center. In April 2009, he will become the center's director. He will replace Peter Burns, who is planning to leave after serving as the center's director since its inception in 2000.

Hunt was formerly a senior economist in the Bank's Research Department. His research has focused on consumer payments, consumer finance, and the economics of innovation. His work includes studies of the dynamics of the consumer credit reporting industry, credit counseling organizations, the collections industry, and antitrust issues in consumer payment networks. Before joining the Bank in 1998, Hunt worked for the U.S. Congressional Budget Office. Prior to attending graduate school, he was an industry risk analyst for Bank One, Indianapolis. He received a bachelor's degree from Butler University and a Ph.D. in economics from the University of Pennsylvania.

The Payment Cards Center provides insights into issues related to consumer credit and payments that are relevant not only to the Federal Reserve but also to industry, academia, policymakers, and the public at large. The center produces a series of discussion papers, workshops, and conferences to facilitate conversations among industry, academic scholars, and the public sector.

The Federal Reserve Bank of Philadelphia helps formulate and implement monetary policy, supervises banks and bank holding companies, and provides financial services to depository institutions and the federal government. One of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System, the Philadelphia Federal Reserve Bank serves eastern Pennsylvania, southern New Jersey, and Delaware.

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