Factoid

As a result of the federal government requiring that Social Security beneficiaries receive their benefits by electronic deposit to a bank account, unless they opt out, the number of recipients with direct deposit (a bank account) soared to more than 80% today, up from...

Factoid

The Federal Reserve System in the U.S. is in charge of the electronic payment systems that transfer more than $4 trillion a day in money and securities between banks all over the country and much of the rest of the world.