Topic: Mortgage Contracts

1 chapters across the catalog

The Federal Reserve's "FedNow" system is viewed by skeptics as the precursor to a mandatory Central Bank Digital Currency (CBDC). Kate Dally explored the legal implications for mortgage holders, questioning whether existing contracts—which specify payment in fiat currency—would remain valid if the system transitioned to digital-only. The Associated Press has dismissed claims that mortgages could be voided, but critics argue the legal transition remains unproven.