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High prices and high-interest rates are hurting vulnerable consumers.

The central bank’s FedNow service could cause small banks to give instant payments a try after initial hesitance.

The U.S. Federal Reserve has launched a long-awaited service which will aim to modernize the country’s payment system by eventually allowing everyday Americans to send and receive funds in seconds,

FedNow is launching with 41 banks and 15 service providers certified to use the service, including community banks and large lenders like JPMorgan Chase, Bank of New York Mellon, and US Bancorp, but the Fed plans to onboard more banks and credit unions this year.

The ‘FedNow’ service, which has been in the works since 2019, will seek to eliminate the several-day lag it commonly takes cash transfers to settle

The US Federal Reserve has launched "FedNow", a payment service that aims to modernize the US payment system by enabling instantaneous transfer of funds, 24/7. The new service will reduce the time it takes for cash transfers to settle and benefit consumers and small businesses.

The firms bring Fox’s total of outside lobbying shops on retainer to 11, and are the fifth, sixth and seventh new additions to Fox’s bench of outside firms since last March.

Credit unions are looking for approval to hold digital assets like Bitcoin directly, after a federal regulator clarified they can provide cryptocurrency services to customers by partnering with third parties.