“FedNow is a new “monetary system” that’s “going to cost you.”
Social media posts
a Facebook post. Claim dated 22 Apr 2023.
PolitiFact rated thisFalse
What PolitiFact found
The FedNow Service is a new instant payment service being launched in July by the Federal Reserve. It is not a consumer-based payment app, and fees listed on a FedNow website would be paid by depository institutions.
Their words, from the summary they publish with the rating.
In short
This claim spread on social media around 22 April 2023. PolitiFact (United States) looked into it and published its finding on 19 May 2023, 27 days later. Its rating was “False”.
Where the claim appeared
- Saved copy of the posthttps://ghostarchive.org/archive/2fXVU
Links recorded by PolitiFact. Some posts may have been deleted since.
This check was done by PolitiFact, not by DoesItStand. We list it so you can find it. Their full evidence and reasoning are in their article.