FedNow is an instant payment service offered by the Federal Reserve. And I've really enjoyed working closely with Chairman Hill and Senator Van Hollen in the Senate to get that service created years ago. FedNow can help households get their money in real time. FedNow can also help small community banks that have fewer resources and technological infrastructure compete with these fintech platforms to offer households their money when they need it while still complying with regulations. (01:23–01:27)
CLAIM
Asserts that FedNow enables households to receive money instantly.
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