What you should know about the Federal Reserve’s new instant payments system
The use of mobile payment apps and person-to-person (P2P) payments are more popular than ever, giving businesses and consumers the ability to send and receive money instantly. According to a recent study, the share of P2P payments made with mobile apps nearly doubled in one year, increasing from 15% in 2020 to 29% in 2021.1 In […]
Bank Failures Shine Light On Interest Rate Risks
“We want to make sure that the troubles that exist at one bank don’t create contagion to others that are sound.” — Treasury Secretary Janet YellenSource: The Wall Street Journal, March 12, 2023 Financial markets reacted turbulently to the collapse of Silicon Valley Bank (SVB) on March 10, 2023, followed two days later by the […]
