The "FedNow" service, which has been in the works since 2019, will seek to eliminate the several-day lag it commonly takes cash transfers to settle, bringing the U.S. in line with countries including the United Kingdom, India, Brazil, as well as the European Union, where similar services have existed for years.
FedNow is launching with 41 banks and 15 service providers certified to use the service, including community banks and large lenders like JPMorgan Chase (JPM.N), Bank of New York Mellon (BK.N), and US Bancorp (USB.N), but the Fed plans to onboard more banks and credit unions this year.
Unlike peer-to-peer payments services like Venmo or PayPal, which act as intermediaries between banks, payments made via FedNow will settle directly in central bank accounts.
The Fed also operates a real-time payments system called FedWire, but that's reserved for large-scale, mostly corporate payments and is only operational during business hours. While the new FedNow system is for everyone, it's likely to benefit consumers and small businesses the most, analysts have said.
Even if someone refuses to change, the permission of murder in the vague view of justice is wrong. Killing a serial killer doesn't bring their victims back, killing a rapist doesn't undo the rape they committed.
In America, our thing is "We'd rather have 8 guilty men walk free than 1 innocent jailed" (supposedly), yet there's been more than zero people who did not commit any crimes, yet were killed. You can't undo murder. At least if someone is given life in prison, you can set them free.
Let's not forget that we're more prone to give the death penalty to BIPOC inmates, not white.
And it costs more to kill someone, than to house and feed them.