A recent initiative by the Federal Reserve to provide access to real-time payments and check-clearing to all consumers is helping to make the case for the revival of the nation’s postal banking system, a long-time top priority of the American Postal Workers Union, according to union officials and two local Members of Congress.
In August, Federal Reserve Governor Lael Brainard announced the launch of the “FedNow Service, a real-time payment and settlement service for the future.”
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