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Alex Jimenez
Alex Jimenez
@AlexJimenez@mas.to  ·  activity timestamp yesterday

Fed to reopen penny deposits after industry outcry

The central bank will accept pennies from banks and credit unions at all commercial distribution centers after ceasing to accept them at some sites beginning last fall.

It’s like the US Government didn’t think this through! 😂😡

https://www.americanbanker.com/news/fed-to-reopen-penny-deposits-after-industry-outcry

#FinTech #FinServ #Banking #Kakistocracy

American Banker

Fed to reopen penny deposits after industry outcry

The Federal Reserve will resume accepting pennies from banks and credit unions at all commercial coin distribution locations beginning Jan. 14. The central bank had ceased accepting pennies at some distribution centers late last year, but bankers praised Thursday's reversal.
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