ALL THE MONEY NEWS YOU NEED TO KNOW | | | | | | Amritpal Kaur Sandhu-Longoria | Investigative Reporter, Consumer Watchdog @AmritpalKSL | | | | |
This is Amritpal Kaur Sandhu-Longoria with your Daily Money headlines for Friday. |
FedNow, a real-time payment system launched by the Federal Reserve , will allow consumers and businesses to send and receive money within seconds 24 hours a day, year-round. The system allows people spend their paycheck immediately instead of waiting several days for it to clear, access funds through an app on their cell phone even if they've lost their wallet, or send money to each other instantly. |
To make a payment, the sender and receiver must have accounts at banks that are part of the FedNow network. |
Initially, 35 of the nation's 9,000 banks and credit unions have agreed to be "early adopters." They include JPMorgan Chase, BNY Mellon, Wells Fargo and Peoples Bank. | Two people sending and receiving money via a mobile app. Getty Images |
Post-pandemic housing market gets tougher |
The housing market is getting tougher for buyers because there just aren't enough houses for sale . June was recorded as the month with the lowest available single-family housing, and home prices are continuing to climb. It has increased competition for available houses, and nearly 33% of the homes on the market have multiple offers. With mortgage rates skyrocketing, the sales pace has slowed down, too. |
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Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you. | | | | Recently, UPS made an operational adjustment to eliminate all Friday day shifts at Worldport, the largest sorting and logistics facility in America. | | | | About 346,000 cups are part of the recall. Soojimus, which makes the Cupkin children's cups, will issue a full refund. | | | | Some Mazda3 and CX-3 owners may experience issues with the rear-view camera image. More than 220,000 vehicles are potentially affected. | | | | The NHTSA has recalled all Nissan Leafs purchased between September 29, 2017 and March 15, 2023 for unintentional acceleration after disengaging cruise control. | | | | AAA is not renewing some homeowners insurance policies in Florida. It joins a number of companies that have pulled out or curtailed work in the state. | | | | Chipotle will give away 2,500 free meals with almost every goal scored by the U.S. Women's National Team during the 2023 World Cup. | | | | A jury in Florida has ruled that McDonald's must pay $800,000 in damages to the family of a girl that who was allegedly burned by chicken nuggets. | | | | Tesla is recalling nearly 16,000 of its 2021-2023 Model S and Model X vehicles because the front-row seat belts may not be connected properly. | | | | Here's five visuals to showcase the scope of how a UPS strike could impact the company's domestic airline hubs and just how big UPS Worldport is. | | | | | | | Sign up for the news you want | Exclusive newsletters are part of your subscription, don't miss out! We're always working to add benefits for subscribers like you. | | | | | | |
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