FedNow is coming…now-ish. And that means money transfers are expected to get a whole lot faster. Sure, you can currently Venmo or Zelle your friends instantly, but the banking system hasn’t kept up. Most transfers currently run on old systems that take hours, or even days, to process the money. That’s all set to change […]
Tag: Banking Crisis
Global banking crisis: Not out of the woods yet
After a major, systemically significant bank crumbled over the weekend, the banking crisis left financial institutions and regulators scrambling Monday to prevent its spread. Credit Suisse, hobbled for decades by mismanagement, scandal and bad bets, finally succumbed to the emerging global banking crisis. Its stunning and rapid takeover by rival UBS, orchestrated by Swiss authorities […]