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Almost no one uses FedNow (which would theoretically bring the U.S. almost on-par with European Open Banking) because the banks really don't have much incentive
by mosburger 2y ago
Almost no one uses FedNow (which would theoretically bring the U.S. almost on-par with European Open Banking) because the banks really don't have much incentive to integrate with it, especially if they're the ones making money by issuing debit and credit cards.
- johnea 2y agoThe banks making money off of the shakedown is certainly a part of the problem. But I bank at a local credit union, and I've mentioned FedNow to about 5 different branch managers. So far, no one has even heard of it 8-/ They just cancelled a relationship with zelle (which I didn't like or use), and I've suggested that tehy replace it with FedNow, but no one even knows what i'm talking about. p.s. Love your username mosburger! My favorite Japanese fast food chain! Especially for their offering of the YasaiBurger...