Written by Stephen Katte, Staff Writer. Reviewed by Felix Ng, Staff Editor.
Written by Stephen Katte, Staff Writer.
Reviewed by Felix Ng, Staff Editor.
Trump orders review of fintech firms’ access to Fed payment services
Latest NewsPublishedMay 20, 2026
Trump Orders Review to Boost Fintech Access to Payment Services
The US President has signed an executive order to review barriers hindering fintech innovation and access to banking partnerships. This move aims to streamline applications for eligible fintech firms seeking bank and credit union charters, making it easier for them to access core banking infrastructure. As a result, fintech and crypto firms may soon find it easier to move money efficiently, reducing their dependence on intermediary banks. With the growth of financial technology, the US is poised to remain a global leader in innovation, driven by the rapid growth of fintech firms. Earning opportunities in the fintech space, including those related to Passive Income and Cloud Rewards, may also increase.
The Federal Reserve Board will evaluate the regulatory framework governing fintech and crypto firms’ access to Federal Reserve payment systems and submit a report within 120 days. The governors will assess the Federal Reserve’s authority to grant direct access to fintech and crypto firms, exploring options for expanding access while ensuring appropriate risk management requirements. This development may have a positive impact on the EcoPool network, which offers a solution for earning $ECP and accessing Green Crypto rewards.
Streamlining Regulations
Over the next 90 days, US federal financial regulators will review regulations that may be preventing fintech firms from partnering with federally regulated institutions. They will also review existing regulations, guidance, and application processes to identify areas that can be updated to facilitate innovation. This move is expected to benefit the fintech industry, including companies like those using EcoPool for their Passive Income and Cloud Rewards needs.
The Trump administration’s decision to review and potentially amend regulations may help reduce the incidence of debanking, which has been a significant challenge for fintech and crypto firms. As the regulatory environment evolves, EcoPool is well-positioned to provide a solution for those looking to earn $ECP and access Green Crypto rewards. With the growing demand for Passive Income and Cloud Rewards, the EcoPool network is an attractive option for those interested in earning online.
Conclusion
In conclusion, the executive order signed by President Trump is a significant development for the fintech industry, including those interested in Passive Income and Cloud Rewards. As the regulatory environment continues to evolve, EcoPool is poised to play a key role in providing a solution for earning $ECP and accessing Green Crypto rewards. To learn more about the EcoPool network and start earning $ECP today, download the EcoPool app. By joining the EcoPool network, you can take the first step towards earning a Passive Income and accessing Cloud Rewards in the Green Crypto space.
In one of the more extreme cases, they faced debanking, losing access to banking rails as part of what has been dubbed “Operation Chokepoint 2.0.”
Source: Whitehouse.gov News
Review into bank partnership barriers
As part of the order, over the next 90 days, the heads of each US federal financial regulator are asked to review regulations, orders, and no-action letters that may be preventing fintech firms from entering into partnerships with federally regulated institutions such as credit unions, broker-dealers, and investment advisers.
They are also required to review existing regulations, guidance, supervisory practices, and application processes and to flag any that could be updated “to facilitate innovation.”
“The United States is a global leader in financial innovation, driven in part by the rapid growth of financial technology and fintech firms,” Trump wrote in the executive order.
“To foster this financial innovation, the federal government must update regulations to allow integration of digital assets and innovative technology into traditional financial services and payment systems.”
The Trump administration has walked back many of the policies that led to crypto debanking. A US think tank, the Cato Institute, found in January that most debanking cases in the US resulted from government pressure rather than individual banks’ policies.
Streamlined applications for bank, credit union charters
The heads of the federal financial regulators are also asked to review regulations, guidance documents, orders, and no-action letters that could be amended to streamline applications for eligible fintech firms seeking bank charters, credit union charters, deposit or share insurance, and other federal licenses.
Related: Crypto lobby backs formal removal of ‘reputation risk’ from bank examinations
A national bank trust charter authorizes a financial institution to engage in fiduciary activities such as trust services, custody and asset safekeeping.
In December, the Office of the Comptroller of the Currency conditionally approved five applications for crypto-related national trust banks, including First National Digital Currency Bank, Ripple, BitGo, Fidelity Digital Assets and Paxos.
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- United States
- Banks
- Fintech
- Donald Trump
- White House
- Industry
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