FedNow Aims to Ignite Expansion with Discounts for Banks
More than 1,700 financial institutions have joined FedNow—the U.S. Federal Reserve’s instant payments system—in the just over three years since its launch. But, a substantial number of financial institutions have yet to make the move. Starting in January, FedNow will offer financial discounts tied to participation, potentially changing the calculus for some banks and credit…