Original Source Material
The Federal Reserve Board voted 6-1 on Friday to gather public comment on creating a new special payments account for use by financial institutions.
Fed seeks comments on ‘skinny’ account
Summary
- The Federal Reserve is seeking public comments on creating a new special payments account for financial institutions.
- This proposal could impact how credit unions manage and offer payment services.
Why It Matters for Texas Credit Unions
This proposal, if implemented, would affect Texas credit unions in terms of their payment service offerings and compliance requirements.