Fetterman Presses Federal Reserve for More Transparency on FedNow
Washington, D.C. – Today, U.S. Senator John Fetterman (D-PA) issued an oversight letter to Federal Reserve Vice Chair for Supervision Michael Barr, pressing the Federal Reserve for greater transparency and detailed responses regarding the performance of FedNow, the central bank’s new instant payment platform, and the fees consumers have to pay for sending payments over FedNow. The letter follows the Federal Reserve’s reluctance to provide complete and detailed answers to
September 24, 2024
