H. R. 10057, known as the “Affordable Remittance Act,” aims to provide affordable remittance providers access to the FedNow payment system within 90 days of the law's enactment. The bill mandates the Federal Reserve to define what constitutes an "affordable remittance...
Simple Explanation
H.R. 10057 is a plan for making it cheaper and easier to send money to other people by letting special money-sending companies use a really fast money-moving system called FedNow. This means sending money could cost less and be quicker, but it's still being figured out exactly which companies will get to use it.