FedNow
11/17/2023
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By Cassie B.
Bank payment processing outages highlight risks of relying on electronic banking
Last week, a number of American banks could not process payments for a few days, leaving some customers in a precarious financial situation as transfers and deposits failed and highlighting the risks of relying on electronic banking. The effects of the outages were far-reaching. Many people’s payroll direct deposits failed, leaving them unable to access […]
07/27/2023
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By Belle Carter
Harbinger of digital financial slavery: Fed launches real-time payments service to sucker-punch private sector purchasing system
The Federal Reserve has recently launched its move to modernize the U.S. payment system with the “FedNow” service that would allow Americans to send and receive funds in seconds, 24 hours a day, seven days a week. The Fed claimed that the said service, which has been worked on since 2019, will take out the […]
07/26/2023
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By Arsenio Toledo
James Grundvig of AMP News calls FedCoin garbage, says the Fed’s CBDC is nowhere near ready
The central bank digital currency (CBDC) being developed by the Federal Reserve, known alternatively either as the FedCoin or the digital dollar, is unlikely to be ready until next year at the earliest. This is according to recent reports regarding the status of the Fed’s development of a CBDC. (Related: Only 16% of Americans would support […]
12/16/2022
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By Ethan Huff
CBDC in 2023: Federal Reserve planning to implement “FedNow” digital currency between May and July of 2023
America’s new digital dollar is almost here as the Federal Reserve gears up to unleash its “FedNow” program at some point between now and next July. Brannon Howse spoke with Rebecca Walser about the shift, which is right now being piloted in anticipation of a soon full release. Here is how the Board of Governors […]
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