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MoFo Reenforcement The Enforcement Blog

Federal Reserve to Create Faster Payments System

Posted in Electronic Payments, Regulatory Developments

On August 5, the Board of Governors of the Federal Reserve System issued a notice and request for comment on its determination that the Federal Reserve Banks should develop a new interbank faster payments system.  The Reserve Banks’ new system — the “FedNow” service — would have a targeted launch date in 2023 or 2024.

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