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The Federal Reserve seeks comment on new guidelines for Fed Regional Banks to consider when deciding whether to extend Fed membership or services to nontraditionally chartered entities.
Weekly Fintech Focus The Federal Reserve seeks comment on new guidelines for Fed Regional Banks to consider when deciding whether to extend Fed membership or services to nontraditionally chartered entities. California DFPI enters a settlement with a fintech company to stop the use of the word “bank” in its name, website URL, and advertising, and requires clear disclosure of the fintech’s bank partnership. Federal Reserve Seeks Comments on Guidelines for Fintechs Receiving Fed Accounts and Services The Federal Reserve System (the Fed) issued a request for comment on new guidelines for th...
Federal Reserve Opens Consultation on Access to the Payments System The US Federal Reserve Board has proposed guidelines to evaluate requests for accounts and payment services at Federal Reserve Banks. In a public statement, the Fed said the introduction of new financial products, such as products introduced by Fintechs including novel types of banking charters, has compelled the central bank to review legacy payment operations. The Fed said that to facilitate these activities, some such institutions have requested access to the payments system offered by Federal Reserve Banks. The central b...
(Cheyenne, WY) – Governor Mark Gordon is welcoming news that the Federal Reserve has announced the opening of a comment period for proposed âAccount Access Guidelines for the Reserve Banksâ, a critical step towards approval of Wyoming-chartered special purpose depository institutions (SPDIs). SPDIs are custodial banks for digital assets that provide safekeeping and on- and off-ramps to the capital markets. Wyomingâs digital asset framework is the first comprehensive digital asset regulations in the United States. Advertisement âTodayâs announcement is encouraging ne...
<p><span>The Federal Reserve Board on Wednesday invited public comment on proposed guidelines to evaluate requests for accounts and payment services at Federal Reserve Banks ("Account Access Guidelines").</span></p> <div><span><br /></span></div>