FedNow rollout in July 2023. Why is no one talking about this CBDC rollout? FedReserve will used FedNow to promote CBCD; one of their selling point will be fighting fraud surrounding A2A transactions. "The Fed plans to roll out additional anti-fraud measures in 2024 and beyond. One feature under consideration, for example, would enable FIs to activate a control setting that rejects payments that exhibit unusual frequency patterns or cumulative value over a period of time. This could address fraudsters’ efforts to work around transaction limits by originating large numbers of low-value payments in a short window."

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The Federal Reserve Banks offer financial services to depository institutions: electronic fund transfers, check collection, and cash and coin distr...

Still an awesome episode second time around!

Fountain

Fountain

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