Morning Brew Daily Fed Rolls Out Instant Payment System & The Battle for Aretha's $18M Estate
Jul 11, 2023
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FedNow Impact
- The Federal Reserve is launching FedNow, a real-time payment system like Venmo for banks.
- This system allows 24/7 access to funds, potentially impacting predatory loan services.
Canadian Payments
- Neal recounts an experience with Canadian friends who use direct bank transfers instead of Venmo.
- He highlights that other countries already have real-time payment systems.
Salt Panic in South Korea
- South Korea is experiencing panic buying of sea salt due to Japan's plan to release treated radioactive water.
- This plan raises concerns about seafood contamination, impacting consumer behavior and the fishing industry.