December 04, 2023

FedNow to host town hall Dec. 13

digital dollarThe Federal Reserve is hosting a complimentary virtual town hall Dec. 13 on the FedNow Service. The Fed’s real-time payments system launched in July; more than 200 financial institutions – including several credit unions – are among its participants.

The town hall will feature panel discussions with those using the FedNow Service on how they’re reimagining traditional use cases with instant payments. Fed leaders will also provide an update on what’s next for the service and upcoming engagement opportunities.

Register for the town hall, happening at 2 p.m. Eastern Dec. 13. The Fed has several resources available for financial institutions and service providers on the FedNow Service.

NAFCU has long supported the Fed’s involvement as an operator of a new, real-time payments rail. The association hosted a panel discussion on how credit unions are using the service at its 2023 Congressional Caucus and has webinars available on-demand. NAFCU will continue to advocate for the development of robust risk management tools, safeguards, and end-user features to promote FedNow adoption.