KeyBank to hold off on FedNow until DDA reach hits 5%

[ad_1]

NEW YORK — KeyBank is hesitant to join the Federal Reserve’s real-time payments network FedNow until the payments rail shows some growth. The $184 billion bank wants FedNow to reach 5% of demand deposit accounts (DDA) before joining the payment network. DDAs allow deposited funds to be withdrawn at any time, Jon Briggs, head of […]

[ad_2]