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