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Consumer Reports: Federal Reserve's Plan to Operate a Faster Payment System Will Benefit Consumers

Aug 05, 2019 - Targeted News Service

Consumer Reports issued the following news release:

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- Federal Reserve Must Ensure Money Moves Safely As Financial Transactions Quicken

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Consumer Reports applauded the Federal Reserve Board's announcement today that it plans to operate a new payment system to facilitate faster financial transactions. The Federal Reserve said it will develop the FedNow Service, a real-time payment and settlement service for the future.

The nonprofit consumer advocacy organi...