FedNow has begun disbursing instant disaster relief payments via participating financial firms, according to a press release. The first financial institution to receive an instant disaster relief payment was CB&S Bank of Russellville, Alabama, which has 56 locations in Alabama, Georgia, Tennessee and Mississippi, the Sept. 17 announcement said. The distribution is part of the U.S. Treasury’s use of the FedNow Service for government payments through the Bureau of the Fiscal Service’s Digital Pay program, according to the announcement.
