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FedNow is still private sector, its ran by private banks. There is nowhere with a .gov domain you can go to, to send money to another US citizen.
by polski-g 3y ago
FedNow is still private sector, its ran by private banks.
There is nowhere with a .gov domain you can go to, to send money to another US citizen.
- toomuchtodo 3y agoFederal Reserve operates at the direction of Congress, who also directed them to build FedNow. FedNow is operated as a utility with a cost recovery (vs profit) model. Ergo, public good. https://www.federalreserve.gov/aboutthefed/fract.htm https://www.federalreserve.gov/aboutthefed/fract.htm https://www.pymnts.com/news/b2b-payments/2019/house-committee-fed-fednow-real-time-payments/ https://www.pymnts.com/news/b2b-payments/2019/house-committe...