Original Source Material
A prototype payment account carries undue restrictions, fintech groups said in response to a Fed proposal that offers expanded real-time payments access.
Fed ‘skinny’ account idea draws criticism
Summary
- Fintech groups criticize a Federal Reserve proposal for a prototype payment account, citing undue restrictions.
- The Fed's proposal offers expanded real-time payments access but faces opposition due to its limitations.
Why It Matters for Texas Credit Unions
The article discusses a federal proposal that could impact all credit unions, including those in Texas.