Federal Reserve seeking public comment on proposal to alter FedNow service
The Federal Reserve Board is seeking public comment on a proposal that would allow U.S. banks and credit unions to use intermediaries to transfer funds through the FedNow Service. FedNow, an interbank real-time gross settlement service that supports instant payments in the United States 24 hours a day, seven days a week, 365 days per year. Currently, FedNow participants may not use intermediaries other than the Federal Reserve banks for a funds transfer sent through FedNow. This mea...
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