The Fed’s plan to speed up payments despite banks’ resistance

Most countries today settle and clear retail bank transfers within minutes if not seconds. In the US it takes days, and there are still bankers who ask, do we really need faster payments? For anybody outside the US, it’s a ridiculous question: Does the Sun rise in the east? Just look! Of course we need faster payments. The UK, Europe, Australia, India — almost everyone else on the planet has them. The first thing […]

 

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