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

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. DDA’s allow deposited funds to be withdrawn at any time, Jon Briggs, head of […]

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