The Federal Reserve is investing in a new service called FedNow that will allow banks to process and settle individual payments within seconds, instead of requiring customers to wait days for funds to clear. Round-the-clock, instantaneous transactions would help Americans avoid overdraft and late fees that mount as they wait for transactions to clear, according […]
What’s the earliest in the morning one of your friends could call just to say hi? Pete Dontas of Wells Fargo joins us to talk about that, the future of banking and the increasing tolerability of the Spice Girls on our latest episode of Other People’s Business.
State Senators Nia Gill and Richard Codey have introduced legislation (S-885) that would create a state-run bank to handle deposits from state government and other public entities. The idea was one of Gov. Phil Murphy’s campaign proposals. As reported in Politico, all public entities in New Jersey would be able to use the state-run bank. […]